I want to get in on home ownership, and buy into this depressed market, but I'm single and just can't justify buying a house for just me to live in, and then only half the time or a little more (with deployments and dets). I think it's smarter to just rent a room from someone with a house, then bank the BAH when I'm gone.
I would be intersted in buying something just to rent out. I don't care if I generate positive cashflow initially as long as I break even (including insurance, PMI if necessary, etc). What I save on taxes will be icing on the cake, and eventually (as my mortgage payment stays the same, but the rental income increases) I'll turn a profit, and I'll be building equity on someone else's dime from day 1.
Does anyone think it's possible to do this, without going beyond, say, a 20 or 30k downpayment?
I would be intersted in buying something just to rent out. I don't care if I generate positive cashflow initially as long as I break even (including insurance, PMI if necessary, etc). What I save on taxes will be icing on the cake, and eventually (as my mortgage payment stays the same, but the rental income increases) I'll turn a profit, and I'll be building equity on someone else's dime from day 1.
Does anyone think it's possible to do this, without going beyond, say, a 20 or 30k downpayment?
