Posted by mike on May 08, 1999 at 11:30:47:
probably about as good as it gets. try ultimately to de-finance the property and keep the cash cow alive. ask yourself what might happen to your local market if you are hesitant about losing it someday. keep it going…
first deal - Posted by JB NC
Posted by JB NC on May 07, 1999 at 23:52:16:
I was wanting to know if this is smart RE investing? I bought a home for 42k Iput 13K in the house, total investment 55K. The house apraised for 79K, I took out a 100% loan onthe apraise value at 8% for 20yrs payment is 660 p&i . Home is rented for one year at 725mo. I took the 24K and bought two more homes I could do the same thing with. Now to me this is a win deal,my friend says I am not wise in doing this b/c he knows some one who lost everything b/c the market fell out where he lived I think in CA. Anyway he is not going to stop me but I thought I would get some other investors input also Thanks JB NC
Re: first deal - Posted by hkCA
Posted by hkCA on May 08, 1999 at 18:51:56:
Instead of renting the houses out, why not L/O them. You could pull out several thousand from consideration on each house plus maybe some higher rent. When (and if) the house sells in a couple of years, you make money on that end also. If it doesn’t sell, L/O it again for some more consideration money.
hkCA