Preparation for doing a good deal. - Posted by Shelton_n_VA
Posted by Shelton_n_VA on August 22, 2003 at 22:51:34:
I am a beginning investor, A full time college student with little income. I found a property for $79,900 that needs about $2500 in rehabbing. Similar houses in the neighborhood sell for at least $95,000. I am thinking of buying it for rehabbing and resale.
>Any advice on how I could get any financing for this deal?
>Is it a good deal?
>Should I just do a quick flip, instead of purchasing?
>I have also been told about other costs that I should prepare for: Homeowners Insurance, Assessment, Taxes, and Closing cost,etc…
How much money should I save up to be prepare these types of costs?