Here's the deal:
I want to eventually get into owning rentals, but I don't make much $$$, so it may not be realistic.
I own a mobile home on land, worth about $80K.
Should I sell, & use that $$$ as a large downpayment on a home, or scrape together what will be a small downpayment, and rent this place out, applying the rent money to my new morgage?
I could probably get around $800+ rent.
I will not have much of a downpayment if I do this (probably $10K), and I want to get a very small, and/or serious fixer, so it will be as cheap as possible.
I'm not doing this so I can have a nice big house or whatever, just to try to get into property that will appreciate faster than a mobile home, plus like I said, get into rentals eventually, one at a time.
thanks!
2007-03-21
12:17:50
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7 answers
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asked by
dork
7