Home purchase.

badmomma · #1 10-28-2009, 04:00 AM

My husband and I have found a couple of nice homes that we want to purchase.

One of them we have ruled out due to the neighbors. It could become a hassle with tenants.

The other is in a great location and the price is great. I am surprised at the size of the home. It has a small yard but it is a 3 bedroom.

Long story short we will get a personal loan and pay for it outright. We can then rent it and have the loan paid of quickly. We will even if it isn't rented right away.

Its all about timing. There are great deals to be had but you have to move quickly. We missed another for half this amount because we didn't see it soon enough.

flip_it_fast · #2 10-29-2009, 02:17 AM

You sure are right about that. Timing is everything. Great deals are available, you just have to look hard enough. Congratulations on your buy. I hope all goes well! Right now I would be too afraid to invest in anything. I wouldn't be able to pay it off quickly enough right now.

luv2flip · #3 10-30-2009, 12:19 PM

If the timing is right for you, and you can afford it, you really want it, then you should go for it.

homealone · #4 10-30-2009, 09:23 PM

Sounds like you have a great plan here, I hope that it all works out for you.

Timing is essential when it comes to flipping a house for either sale or as a rental. Best of Luck!!!

badmomma · #5 11-09-2009, 05:43 AM

Well thank you all very much. I still don't have any news for you but I sure hope we can get this one. The money from either the sale or renting it is an investment in our future. I sure would like to have a bright one if you know what I mean.

Eyeofngt · #6 11-09-2009, 10:16 PM

These days anytime you find a good deal and can do it go for it!! You can always decide later on what exactly you want to do with it , sell or rent. If I had the funds you can believe I would be looking and buying.

troubles74 · #7 02-21-2010, 12:11 AM

That sounds like a relly good idea,But I would borrow a little more than the cost so that I could renovate if needed or upgrade some things inside as well.This would ensure that you can charge a nice price for rent,this way you can pay back your personal loan that you got to buy the house with and the house will be in good shape so it is not a head ache for you when the new tenants move in.

I don't know what kind of shape that the house is in so it is hard for me to say.I do know that you have a good opportunity on you right now and in this economic crunch I would definately do it if I were you.