All Forum Posts by: Austin White

Hello everyone! I’m looking to buy a single family home in either Killeen or Georgetown Tx. I am active duty military stationed at Ft. hood and will be getting out of the military in a few years. I want to stay in Texas, preferably the Georgetown area after I get out.

I will be using my VA loan to finance this home purchase and have already been pre approved for 300k. Below I have listed to pros and Cons of each area. Just need some help on which would be the better option for a long term investment. Thank you!

Killeen

Pros: cheaper property costs, easier commute to Ft Hood, cheaper property tax, easier to find tenants

Cons: high crime, slow home appreciation, only one type of tenant (active or retired military), 

Georgetown

Pros: more diverse pool of tenants, can charge higher rent, better location (closer to downtown Austin), lower crime and better schooling, appreciates higher then Killeen

Cons: higher property prices and property tax, far commute from Ft. Hood,

Hey All! I am a new investor in the Killeen area, I'm looking to grow my network and find other investors to work with. Give me a shout if you are interested! 

Thank you all for the feedback. The numbers I have run for this property assume I was living in the house. How would I run the numbers if I were to move out of the home? 

Similar homes in my area rent anywhere from 1800-2000k (found on zillow) a month. However I can collect more rental income if I rent by the room, because average room costs in my area are 650 (found avg rates on facebook market place and craiglist). I'm just confused on what number to use if I were to move out? If I use the market rental rate of 1800-2000k, that's basically 500-550 per room which wont cash flow, but if I use the rent by the room strategy and charge 650 per room, I can generate 2600 in rental income which would cashflow...I'm not sure if I am over thinking this or confusing myself lol

Hello Everyone! I'm a first time home buyer looking to house hack a 4bedroom 3 bath single family home in Killeen. I'm curious about how I should finance this home. Does it make sense for me to use my VA loan and not cash flow or I put 40k down and be able to cash flow me 150-200/ month? Equity is obviously important, but so is cash flow. Any advice?