Thanks for the helpful replies. The home is in Northern Virginia. Income is $130k. Debt is $8,000 to be for rapid rescore and then they “may” give a pre-approval letter in 24-72. Only remaining debt is $14k car loan.
To answer one of the questions above, I have been on Bigger Pockets for a few months, learning about investing because it interests me. Same reason I read other sites, forums, blogs...because I read about what interests me, much like what I guess most everybody does.
I’m “impatient” to buy a home because our landlords have defaulted on their mortgage and are selling...and for the last five months they have refused to repair the hvac and I’m tired of paying rent every month (always pay early/ on time for the last 29 months) and I told the landlords that they need to agree to end the lease early because it’s not okay for me to keep paying them rent and they won’t fix a major item and they have broken the lease. They have agreed to end the lease early and so now I’m moving 6 months before I had planned to and do not want to start a lease elsewhere because a) there’s not much available to rent other than in large crowded complexes and b) nothing is available for short term leases for anywhere near a reasonable rental rate.
Unfortunately in Northern Virginia, a crappy townhouse is caviar priced. So for any seasoned investors who want to buy SFH to rent out, I would certainly suggest Northern Virginia because there are literally bidding wars for rentals and when the agents/landlords get a large amount of applications, they obviously increase the rent asking price. It happened last week to a house I was interested in potentially renting if I can't buy.
