[Calc Review] Help me analyze this deal
We are currently stationed in Guam and recently noticed houses appreciate pretty fast. Houses that were 350k a year ago are now about 425k. This led my husband and I to consider owning but the numbers are not adding up. Mortgage payment for a 450k house is about $2720 and the rental average is about $2450 (OHA E5-E8). Cost to sell the house in about 2 yrs is about 8%. We don’t know what to do? Should we buy in hopes house will appreciate as they have been or keep renting. We pay $2500 in rent so that’s 30k that could be going to our own investment. We own a rental property in Arizona that is doing very well. Cash flow is over $220. Below are a few numbers I ran If we bought and sold. I’m one to buy and hold, but this property would be in Guam and I would be stateside. I’m not too sure I want to manage a house from overseas. I self manage the one in Arizona but I feel that’s easier because we will be moving stateside and I’ll only be a $600 plane ride away as opposed to Guam which would be about $2700 if I ever needed to comeback.
** the $473K is with closing cost and VA funding fee rolled into loan. Would you buy a rental property and sell in 4-5 yrs even if you'll be coming out of pocket or just keep renting and putting 30k into someone else mortgage?
*This link comes directly from our calculators, based on information input by the member who posted.