All Forum Posts by: Jay Anand

Hello All,

Seeking advice on the following.

Looking at buying a SFH (not New) in Meyerland plaza for $449K. (3 bedroom, 2.5 baths, 2000 Sq ft)

20% down using HELOC at variable interest rate.

Traditional mortgage on rest of balance at whatever market rate I get approved for.

I know rental comps in the area will be about 3300. Which means I will be paying out of my pocket each month. But my thought process is that this area is appreciating like crazy. and If I can rent it out for the next 10 years the land value will be worth it.

Questions.

1. Is my assumption grossly miscalculated?

2. Better to buy as an investment property at higher interest rate OR

3. Buy as homestead for a child and reserve 1 room for them, and LTR on rest of the house.

TIA.