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Updated almost 8 years ago on . Most recent reply
Advice on whether to buy or not.
Hello I am a first time buyer with concerns on purchasing my first property. I am looking into a property in ewa beach in Oahu, HI with intentions to occupy and renovate for the first year and follow the next by renting out. My concerns being I am military and although the VA offers 0 down and a low interest of 4.83, the mortgage for the 2/1 900 sqft townhouse is a tad higher than what I would be able to rent out for (approximately 200-300 I would have to come out of pocket until the rent increases in the area). The market here is strong and growing rapidly from what I am told so I could possible break even on mortgage in the next couple years. Is this worth it? Any suggestions advice would be much appreciated thank you.
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@Edgar Gonzalez You will find that 90+% of people on BP will suggest to not buy negative cash flow properties. It is likely unsustainable and you won't be able to scale.