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Updated almost 6 years ago on . Most recent reply
Should I even consider a property if I plan on moving in 5 years?
My plan is jumping to another career field within 3 years so more than likely that would mean me moving to a different state. I am currently living in an apartment and pay just about $1000 a month for it right now, I figured why not shell out $300 more a month or so for a 3-4 bedroom home (Texas is kinda cheap I suppose) and rent the other rooms out while living in it, and if I happen to move then I would hire a property manger to take care of things. Is this even worth it or a good plan?
Most Popular Reply
my biggest fear is that my #1 plan is to go to medical school in which I will have pretty much be like $300kish in debt at the end of it and will have absolutely no income for 4 years. From what I have researched, I can get a 3 bed 3 bath house for around $230k in the area that is relatively new (>2000), with FHA it'll be around $1650 a month with home insurance and property tax. IF I were to manage to rent out all of the rooms for $750 (right around average for the area), I'll net $600 a month. It's not so bad but it is a big if, especially if I have the potential to have zero income.