Updated almost 12 years ago on . Most recent reply
First time investor
need some advice for a first time investor. I am living in El Paso and plan to live in the city for the next 2-4 years. I am paying a premium monthly rent of 2000$ to live in a good school district. Would it instead be a good idea to buy a 2013 construction house on the market priced at 240,000. Since I plan to live in the city for 2-4 years, and later plan to sell/rent the property- is it wise to take a 15 or 30 year mortgage. (I am in a position to pay monthly payments if it were a 15 yr mortgage.) Since this an investment property, what is the expected down payment.
Thank you in advance
Jo Rao