I'm a first time buyer and I'm also in the military would buying this property be a good investment for me and my family?

Asked by Elaine Romain, 96744 Fri Nov 8, 2013

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Elaine Romain, Renter, 96744
Sat Nov 9, 2013
Thank you all for the replies to my question. Everyone's information is helpful. I want to own and rent when I leave but as some of you said a single home may not be ideal. My family will be growing. I will take all the advice and move forward considerably. Thank you again.
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A great planning resource for you might be http://"www.ourhomeplan.com". Its purchase planning and education.
Flag Sat Nov 9, 2013
Dena Puglisi, Agent, Vista, CA
Fri Nov 8, 2013
In my opinion, it would be a good investment to own a home in San Diego County. Even if you get transferred or decide to live elsewhere, you could rent the property. Through craigslist and your military connections, you should have no problem finding a tenant, if the home is well maintained and priced right.
0 votes
Daniela Mars…, Agent, Carlsbad, CA
Fri Nov 8, 2013
This is a nice townhouse, with a spacious floor plan, located close to shopping and the 78 freeway, yet in a quiet location. It is difficult to answer your question if this is a good investment without knowing what your goal is. Do you intend to be a landlord if your job relocates you? If the answer is yes, I suggest that you make sure that the mortgage cost, taxes and HOA are covered by today's rental rates for a similar unit. My suggestion is that you choose a Realtor who can help you to analyse your goals and to make them happen. If you are not currently working with a Realtor, I would be very glad to meet with you and help you to create a plan that will best work for you. I agree with the suggestion that income units would be a great choice but realistically, seldom you can find in north county units that are priced well and that are in top shape to qualify for VA financing.

Daniela Marshall
Real Estate Service
HomeSmart Realty West
760-809 3003
CA DRE License 01056741
http://DanielaMarshall.com
http://facebook.com/daniela.marshall
0 votes
Daniel Lehman, , San Diego County, CA
Fri Nov 8, 2013
Hey Elaine,

I am a veteran of the Marine Corps and do a lot of VA loans for my clients. I think some of the best property available, depending on the family size and goals, is multi-unit.

If you are only staying for a certain period of time, and want the property to be a long term investment, a lot of times it makes a lot of sense to get a multi-unit where you can live in one unit, and rent the other(s) to help reduce the out of pocket cost.

First, you qualify for VA loans with zero down as long as you owner occupy. Living in one of up to 4 units is considered owner occupancy.

Second, while you are there, your cost is reduced because, depending on the numbers, you can have another person/family that would help you cover the monthly cost.

Third, should you get stationed somewhere else, it is going to be much easier to cover your monthly payment with rent on multi-units than it is on a single family property.

In any case, I dont know if that is at all helpful, and really doesnt pertain to the question you were asking, but I wanted to let you know that the option exists, and works well for a lot of my clients.

Let me know if I can help at all.

Daniel Lehman
858-345-4725
daniel.lehman@wjbradley.com
0 votes
Jeffrey Vidal, Agent, San Diego, CA
Fri Nov 8, 2013
Hi Elaine,

I am a Veteran myself. This is a good looking property and is VA approved. As far as a good investment what is your intention with this property? How long will live in? Will you sell it or rent it when you transfer? I would also consider looking into some single family homes. If you need help I deal with veterans everyday. I can show you how to save the most money possible. Call me at 619-734-7306 or visit my website http://www.sdrealestatefirm.com
0 votes
Laurie Green…, Agent, Carlsbad, CA
Fri Nov 8, 2013
it looks like a beautifully redone home.. However, there is only one full bathroom.. Its a good price, but it would probably be better for a single person..
0 votes
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