Updated almost 2 years ago on . Most recent reply
Primary Residence Investment?
Looking into best (not easiest), but profitable real estate investment to start with. Currently Active Duty family of five. Considering Primary Residence Investment property giving my family a roof over their heads with intent to invest in the property to rent or sell.
Any feedback from anyone who has found themselves juggling the decision on what investment would work best with established midsize family.
Most Popular Reply
@Tony Bryant Jr. My brother in law is stationed at Camp Lejeune, NC. He has a family and purchased his first primary residence last year. The answer to your question really depends on your location, time in the military, or future deployments. If you buy a house, get deployed, move, or rent the property without experience you're setting your self up for a disaster.
Moving off base is a major decision. His family discussed it for 2 years. He's also been in the Marines for 18 years and nearing retirement status. He will not be deployed going forward. They have no plans to move within the next 10 years (kids in school). In my opinion those big level questions need answered before you consider buying RE.
FYI; they bought a new construction property because everything was getting over bid (at the time). A buyer fell through so they jumped on a property once it hit the market again. From start to finish it took nearly 1.5 years to buy a something. You can rent rooms and house hack all you want but don't rush into anything. If an agent is rushing you maybe they're not the right person. Keep that in mind. Cheers.