Posted by lawrence on May 11, 2006 at 18:17:58:
I am located near the 101 and broadway and I love older homes as well in Mesa. I think you have a great idea. The key is not to fall in love with the properties, because it all comes down to the numbers and the equity. Also, obviously a home of that age is a big risk for things such as termites. And as far as financing - I work as a loan officer for a mortgage broker, and you are going to get the best financing if you intend to occupy the property. (i,e. 100%) But if you already own a home and are not going to sell it - then you are able to finance it as a second home if it is further than 50 miles from your primary residence.