All Forum Posts by: JB Park

Hello all,

I am currently running small business and was able to save 150K cash so far. 

I am 27 years old and have no experience in real estate at all. 

I am living in NYC (Queens) and my long time girl friend and I want to settle down in Fairfax, VA

I have been thinking about buying my first house and found out that the market is too hot in Fairfax County due to upcoming Amazon HQ 2.

What would you guys do if you are in my shose?

Thanks :) 

@Matthew Irish-Jones Thanks for your help. Would be nicer to have 30 years morgage and generate small cash flow and let it grow over time? If I buy 500k townhome in VA with 30 years morgage, it will conservely genearte 300-400 dollar every month. Is it too small considering putting down 150K?

I forgot to mention that this is my first house purchasing and will not live there for a while.. 

Hello All,

I have been running a small business for 3 years now and it starts making good profit from this year.

I have 200K for downpayment to buy a house and have few questions..please help me..

1. I am living in NYC helping my mother (she cant work due to her health condition) and looking to buy a house in Fairfax County in Virginia where i came from. Would it be bad idea to buy a house out of state?  I go there once a month to see my girl friend and will get married within 2 years

2. 15 years vs 30 years. Ive been looking many different houses (single, town, and condo) and with 200k downpayment, i can easily afford 500k townhouse with 15 years morgage. If I buy 700k single familiy house, i may have to come up with another 1000 dollars every month to cover all the cost which I can. Would it be better to pursue 30 years morgage and have less pressure or should I really push myself? 

3. How do people find fair rent rate? Since my house should be rented, I would like to know how to find it. 

4. Can I deduct interest rate, HOA fee, and other cost to maintain the house from my tax?