Updated almost 6 years ago on . Most recent reply
House hacking with 0% down
I am looking at buying a property in the Jupiter or Palm Beach Gardens area. I have a preapproval for a doctors loan of 400k with 0% down and an APR of 4.569% no PMI. Currently I'm paying 2000 a month in rent in a bad school district. Want to get our daughter into a good school district but I can't seem to find a place in the 2000 a month range. Does it make sense to pay 2500 - 2800 a month to live there for a few years and then move to a new place and start over again with a new doctor's loan? The rental comps appear to cover my expenses barely if we where to rent the property today, however, there would be no capx, vacancy, repair and maintenance coverage. I want to make the right move but I don't want to be left on the sidelines either. Any advice?