All Forum Posts by: Kevin Nguyen

@andrep 

Ideally I would do that however my wife is averse to the idea. She prefers a SFH and then we could rent out a couple rooms to our friends.

@ChristT 

The more expensive house is in a slightly better location.  It is a newer neighborhood with more amenities and there will be a direct freeway connection to the neighborhood in a few years.  From an educated guess I could see the freeway boosting the price of the more expensive house.

I guess if I run into problems with conventional loan approval (cuz  of my bigger mortgage) I'll just have to try to find money elsewhere or get creative.  Even in the cheap house I am sure eventually I will run into problems with getting a conventional loan.  

I am trying to decide if it is smarter to buy a cheaper house vs a more expensive one while I try to start real estate investing.  The cheaper house will have a larger up front cost due to maintenance and renovations. My wife and I make about 160k a year. No debts. The cheaper house will carry a mortgage of 1800/month and the more expensive one is 2300/month. The house that's 2300 per month is newer, in a nicer neighborhood, and more spacious. It is a longer term house and  we love the newer house. 

Will spending more on this home bite me in the butt later when I try to get loans for investing? Should I choose the cheaper house while I spend a few years trying to start real estate investing.