Posted by Sharif on February 23, 2001 at 11:29:55:
What I meant was that a bank wouldn’t want to finance me because I already carry a large mortgage for my current home. The only way (in my opinion) a bank will finance me for a second mortgage is IF my income increases, which won’t be happening anytime soon.
Does property flipping basically mean “fixer uppers”? Based on your example, I would need ‘out of pocket money’ to complete the fix up and other repairs before I sell.
What would you recommend as a starter? I have a few G’s saved, which I’d rather not touch.