Posted by RR Smith on May 13, 2000 at 20:06:30:
Buy the worse house on the block and fix it up. You could get a ballon mortgage, or interest only mortgage, but that increases your risk exposure. This will increase slightly your rehab ROInvestment and decrease your loan payments (over the short term).
accelerating accidental profits - Posted by lander
Posted by lander on May 13, 2000 at 12:09:14:
By chance I made $4,900 on the sale of my previous home due to a required move for a new promotion. I only lived in it for 14 months and did minimal renovations. Now with any luck I stand to make between $6,000 and $12,000 on the sale of my current home due to corporate downsizing and the necessity of a move. I have only been in this current house for 6 months. I am wondering…is this just dumb luck or can one make a decent living this way? How do I go about speeding up this process and how do I limit monthly mortage payments while doing rehab, since I am no longer employeed. Is it possible to make a go of this from my wife’s small salery. Need some guidance here…I can’t afford to make bad decisions.