Mark your original post is something that a lot of people wrestle with. My concern is that there is an almost…ambiguous quality to your post. It sounds like your decision to purchase is a cross between not being able to generate a good return on your 250k nut, being tired of renting, and thinking you can get a posotive cash flow on a home that you will buy. I guess that blend is okay yet it doesn’t feel right to me, I cannot describe why. For no other reason then a gut instinct I think you would be well served to try to push things out awhile. Also if you are considering a cash purchase why don’t you investigate learning about trustee sales and purchasing a foreclosure? You could save a lot of money BUT it takes a lot of legwork and learning. It just seems to me that plunking a lot of cash down for a home you really love and will live in for a long time is one thing but to plunk a big wad of cash down on a home that you are buying simply because it is a substitute for you to live in rather then renting a home, and that you will convert to a rental in the near future anyways… It just doesn’t seem like a good fit to me. If you hold off I think you will be glad you did.
