I know there have been a few posts regarding this in the past (last one was 2011 I believe). I thought I would broach the subject again as I debate buying an investment property in Pensacola. As the economy changes, opinions tend to change too.
I am currently renting in East Hill area of Pensacola, and if anyone has been down here lately they would see how much this area is really increasing its value and desire, although it is still not a completely established neighborhood.
I have found a house here that was completely renovated in 2007. I will be in Pensacola through next summer at least, and then would plan on renting the property. The deal on the house is good, and with the VA loan I could make it happen (my only use of it though). In the long run hopefully equity/rental income from the house would provide the down payment for the next. I am an O-1E (over 8) with no dependents so I know I can manage the finances of the property and afford mortgage payments if I got into a bind.
Looking for any and all opinions!
I am currently renting in East Hill area of Pensacola, and if anyone has been down here lately they would see how much this area is really increasing its value and desire, although it is still not a completely established neighborhood.
I have found a house here that was completely renovated in 2007. I will be in Pensacola through next summer at least, and then would plan on renting the property. The deal on the house is good, and with the VA loan I could make it happen (my only use of it though). In the long run hopefully equity/rental income from the house would provide the down payment for the next. I am an O-1E (over 8) with no dependents so I know I can manage the finances of the property and afford mortgage payments if I got into a bind.
Looking for any and all opinions!