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Updated almost 6 years ago on . Most recent reply

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Alvaro Rodriguez
  • Specialist
  • Houston, TX
17
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151
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Is this a good useage of $50k?

Alvaro Rodriguez
  • Specialist
  • Houston, TX
Posted

Here in Houston, actually Katy Tx. There are some new construction houses for $200k, 3 bed 3 bad. I have $50k to put as downpayment with 4.375 interest on the rest of the mortgage, monthly payments of $1500 with HOA and yearly tax included in the Payment. I was thinking about moving in for a year or two while I pay the mortgage vs keep paying rent as I am doing right now, and in a year or two rent that house and move somewhere else, and collect rent. The Houses in the area are getting rented for $1900-$2500 as today Do you think this is a good use of the $50k or strategy to get into real estate?

Most Popular Reply

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6,241
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Aaron K.
  • Specialist
  • Riverside, CA
3,800
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Aaron K.
  • Specialist
  • Riverside, CA
Replied

If you want a primary residence, then buy a primary residence, if you want a rental buy a rental, it is unlikely that you will find something that will check all the boxes for both.

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