All Forum Posts by: Tiny Johnson

Can someone please articulate the reasons why people go for the 30 yr loan vs the 15 yr? I have interest so why are people more inclined to pay more of it with the 30 yr term?

Thanks.

@Alfred Litton great feedback. So my question to you is, and place yourself in my shoes-military only three years in WF max, would you purchase this home for your family then after the 3 years sell it? I have no intentions at this time to live in WF long term, yet I don’t see many options with rentals that suit my family’s need in that area. So buying, short of living on base, seems to be the only viable option—thoughts?

Freddy

@John Collins when it comes to travel I will not be travel often as the base is a training base (3yrs at least)

As far as the rental and the forever home I don’t think I’d be 100% comfortable paying both mortgages unless I have tenants. I obviously have to have 8 months or so of mortgage save for vacancies, but I have truly calculated that all out yet.

Greetings all! I am active duty military relocating to Wichita Falls, Tx, just north of Dallas by an hour or so. The area seems to be thriving in the sense of growth and I'm considering buying this home and I'm unsure whether to use my VA loan or wait until I find my forever home. There are no rentals in the area so it almost seems like I'm forced to buy. I would really appreciate any feedback on whether this is a good home to invest in, initially as a home to live in for at least 3 yrs and then rent out. Help is needed and greatly appreciated.

Full disclosure: I’m a novice to the rental investment game, but the plan is to live out of the home for three yrs and then turn the property into a rental.

https://www.zillow.com/homedetails/5006-Southfork-Dr-Wichita-Falls-TX-76310/206691493_zpid/

Thanks and cheers

Freddy J