Military, Buying a rental property
I bought my first house near Camp Lejeune, NC about 6 months ago. I am house hacking and have roommates who pay the mortgage. I have a friend who is leaving soon and is willing to sell me their house for $200k when the house is definitely worth more. He has asked that we forgo a realtor but I am unsure. I have enough saved up for a down payment of 20% but that would deplete the majority of my savings. This is my first rental property and I want to do this right.
Are there any other military investors in the area that can talk with me or give me their advice on the situation? Thanks for any assistance in advance.
Most Popular Reply
Sounds like a good deal. What is your question?
Whether to use a Realtor? don't really need one unless you need help going through the process.
Whether to buy it? That's up to your investing goals and comfort depleting your savings. How fast can you replenish your savings between your house hack and this second house?
I'd say this isn't your first rental since you are renting out your current house.
There should be other Marines in Lejeune who are real estate investors. Have you talked with them?
What are you long term goals? When are you due to pcs again?