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Updated almost 11 years ago on . Most recent reply

User Stats

3
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1
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Jo Rao
  • El Paso, TX
1
Votes |
3
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First time investor

Jo Rao
  • El Paso, TX
Posted

need some advice for a first time investor. I am living in El Paso and plan to live in the city for the next 2-4 years. I am paying a premium monthly rent of 2000$ to live in a good school district. Would it instead be a good idea to buy a 2013 construction house on the market priced at 240,000. Since I plan to live in the city for 2-4 years, and later plan to sell/rent the property- is it wise to take a 15 or 30 year mortgage. (I am in a position to pay monthly payments if it were a 15 yr mortgage.) Since this an investment property, what is the expected down payment.

Thank you in advance

Jo Rao

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