All Forum Posts by: Leslie G.

so this is an interesting one…

went under contract on a duplex with both sides rented. Built in 2021 in Houston tx with both sides rented for 3k total. during inspection noticed one side has pets while there was nothing on the lease. notified the owner, who notified tenants of violation and afterward refused to pay pet deposit or pet rent. seller is now thinking of eviction. tenants have no prior history of bad behavior when it comes to renting  

as we move forward to closing what would 

Michael

Thanks that’s really helpful. here’s to hoping SPY returns 10% annually at min for the next 5 years! 

New Here to Bigger Pockets and want to get your thoughts on this.

My Wife and I are buying our first home in Houston, TX.  Both of our jobs are in the city so we are looking to buy under $400K in the Inner Loop area.  We aim to live in the house for 3-5 years and then either sell or rent out the property after that.

My question is, with our goal in mind to rent out, should I take on a 15 year or 30 year conventional mortgage?  Both fit into our budgets at this point at this price point.   How do I think about tax deductions when the property becomes  a rental? Can I still deduct Interest Payments on the home if I have bought another?

Am I missing anything else?