OfflineWe saw a house a few months ago that my husband & I have always liked. We have not looked at it yet. The price is super low. The reason we haven't even looked at it yet is because financially we aren't sure if we can take it on although payments would be super low Tony (husband) is worried about insurance, taxes & all that. He is just itching to do something with it especially since we noticed yesterday the price has gone down. We know the previous owners (acquaintances - we're pretty sure they're the previous anyway. I told Tony tonight that we can at least go look at it. The very few pics on the realtor site it does need some minor work (paint, cleaning...) but we're just wondering why other investors haven't grabbed it yet because they buy just about every house in this town that goes up for sale. Tony is wanting to rent it out & when he retires in 12 years possibly move into it. I guess what my question is when you have no financial movement whatsoever but are able to get a loan how do you pay for insurance & all that? If we do decide to buy this house it won't be until end of Feb/first of March (tax time) we will then have some financial breathing room. We have found awesome deals on multi-family homes too but the above worries is what is causing us to hold off. Opinions please...
Thanks
Marlene
Don't Let The Past Dictate Your Future!
Find out what the taxes are, and how much insurance would be. Determine what you could charge for rent. If your expenses are less than the rent, you probably have a good deal. Don't forget to factor in repairs.
Good Luck, Al
"NOW GO FIND A DEAL"
Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
Watch your character, it becomes your destiny.
Frank Outlaw