Posted by Scott Moore on June 19, 1999 at 18:12:38:
I HIGHLY suggest that you NOT buy that house because you have done NO research. You can not “guess” what the taxes and insurance are. This is what YOU need to do…
Call the local office at city hall or where ever tax records are located and get the taxes charged to that house.
Call an insurance company and get a quote from them. This is what you need to know: Home age, roof age, type of updates like electric and furnaces and such, what type of heating it it, how many amps is the fuse box?
Look in the paper and find out what the local rents are in that area for that type of house.
Then you should be able to put together enough numbers to see if it is worth the deal…