All Forum Posts by: Ariana L Canales
Ariana L Canales has started 1 posts and replied 1 times.
Post: Can I be cashflow positive in north Dallas w 200k 3% down?
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I live in Richardson, right but Plano and would like to stick to 30 min commute from my work.
my real estate agent is aware of my intention to buy a property, live in it for a year and then rent it out. I got pre-approved for 250k but would rather spend <200k.
is this doable? Buying a property under 200k with a 3% downpayment that is within 30-40 mins drive from Richardson tx 75082 and will be cashflow positive a year from today?
My real estate agent is saying it's impossible and is finding very few properties that have a 200-250 surplus today, if I purchase the house for 249k and a 3% downpayment. I'm not comfortable with this amount since I'm currently paying 1200 on rent but PITI would be 1900 if I buy.
I live in an apartment and my lease is up on July 2020 if it matters.