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Updated almost 13 years ago,
Advice NEEDed!! potential 1st time home buyer/investment property
Hey All..
Im 24, recent grad living in metro ATL... ~60K salary...credit is decent, with only school loans ~40,000 to repay..as of now renting an apt ~1000 a month. And its possible within the next 2-3 years I could be married and looking for a new home with my current boyfriend.
I'm extremely interested in getting involved with real estate investing in the near future.. and ran across a nice foreclosure property in the buckhead, atl area going for 100,000 2 bed 2 bath condo.
Would it be wise for me to continue renting, and just save money and wait until my bf and I are ready to find a home together? and primarily focus on paying off student loans aggressively?
Or my plan, purchase a home or condo (similar to the one mentioned above) alone right now, which i'm sure as far as monthly payments would probably be cheaper than my current rent, and use it as an investment property once my bf and I find a home together?
what would would be the pros and cons of purchasing a home now?