1st time buyer question: how does buying investment property 1st affect my mortage options?

[SD Realtor]

Like everything else in life, individual risk tolerance varies greatly. I would urge all individuals to simply understand what they do or do not have. Quite simply most people vastly overestimate the coverage of any and all policies, however those with condos are at the high end of the bell curve. I find with my rentals that cash flow is secondary to risk tolerance. However that is just me.

[UCGal]

Looking at your numbers – you’d want to more down or you’ll pay a hit on the interest rate. Investment property has a sweet spot of 75% mortgage or less – you have closer to 80%.

As pointed out – it doesn’t cash flow… so you’d be spending $ every month to own this. I presume your goal is to make it up with appreciation? You mention it’s close to the college – so I’m going to make a leap and assume it’s the UTC area. I think (JMHO) that area has a lot of downward pressure on both prices and rents… Lots of units on the trustee sale lists and with NODs…

I’ve been looking hard at investment properties (but in the 2-4 unit type)… so far nothing has cash flowed so my money has stayed on the sideline.

[UCGal]

Looking at your numbers – you’d want to more down or you’ll pay a hit on the interest rate. Investment property has a sweet spot of 75% mortgage or less – you have closer to 80%.

As pointed out – it doesn’t cash flow… so you’d be spending $ every month to own this. I presume your goal is to make it up with appreciation? You mention it’s close to the college – so I’m going to make a leap and assume it’s the UTC area. I think (JMHO) that area has a lot of downward pressure on both prices and rents… Lots of units on the trustee sale lists and with NODs…

I’ve been looking hard at investment properties (but in the 2-4 unit type)… so far nothing has cash flowed so my money has stayed on the sideline.

[UCGal]

Looking at your numbers – you’d want to more down or you’ll pay a hit on the interest rate. Investment property has a sweet spot of 75% mortgage or less – you have closer to 80%.

As pointed out – it doesn’t cash flow… so you’d be spending $ every month to own this. I presume your goal is to make it up with appreciation? You mention it’s close to the college – so I’m going to make a leap and assume it’s the UTC area. I think (JMHO) that area has a lot of downward pressure on both prices and rents… Lots of units on the trustee sale lists and with NODs…

I’ve been looking hard at investment properties (but in the 2-4 unit type)… so far nothing has cash flowed so my money has stayed on the sideline.

[UCGal]

Looking at your numbers – you’d want to more down or you’ll pay a hit on the interest rate. Investment property has a sweet spot of 75% mortgage or less – you have closer to 80%.

As pointed out – it doesn’t cash flow… so you’d be spending $ every month to own this. I presume your goal is to make it up with appreciation? You mention it’s close to the college – so I’m going to make a leap and assume it’s the UTC area. I think (JMHO) that area has a lot of downward pressure on both prices and rents… Lots of units on the trustee sale lists and with NODs…

I’ve been looking hard at investment properties (but in the 2-4 unit type)… so far nothing has cash flowed so my money has stayed on the sideline.

[UCGal]

Looking at your numbers – you’d want to more down or you’ll pay a hit on the interest rate. Investment property has a sweet spot of 75% mortgage or less – you have closer to 80%.

As pointed out – it doesn’t cash flow… so you’d be spending $ every month to own this. I presume your goal is to make it up with appreciation? You mention it’s close to the college – so I’m going to make a leap and assume it’s the UTC area. I think (JMHO) that area has a lot of downward pressure on both prices and rents… Lots of units on the trustee sale lists and with NODs…

I’ve been looking hard at investment properties (but in the 2-4 unit type)… so far nothing has cash flowed so my money has stayed on the sideline.

[Author]

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