Should I purchase a property to live in ; gain some equity and use it to finance other property? Open to all suggestions.
2006-10-30 06:42:29 · 5 answers · asked by tianaramal 4 in Business & Finance ➔ Renting & Real Estate
This is such an open ended question and it really depends on your personal situation. Good credit, bad credit, amount of income, experience, desire to be a landlord, or just rehab and sell.....
I would begin by networking, as you have started to do on here, and then share more of you personal situation to determine the best route to take. There are so many ways to invest in Real Estate that there is a way to taylor it to your own personal circumstances, you just need to research it out and make some decisions about how hands on you really want to be.
2006-10-31 04:29:09 · answer #1 · answered by julsells 2 · 0⤊ 0⤋
Right now the housing market is cooling which means property value is going down. So now would be a good time to make your move. I would get a 2-4 unit place and live in 1 and rent the rest. Use that income along with your equity to purchase other properties
2006-10-30 06:46:58 · answer #2 · answered by ttothej4343 1 · 0⤊ 0⤋
Absolutely, you got it in one. If you buy a house on a 90% mortgage and sell it a year later at 5% profit (about the rate of inflation) you make a 50% return on your outlay. I don't know where you live but in England that 50% would be tax free.
You can think of your mortgage repayments as the rent you would have to pay anyway even if you had not bought the house.
2006-10-30 06:52:51 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Invest in truly property, so far as a situation to are living - your house. But rather then that, DON'T put money into truly property on account that the "bubble" has popped and the values of truly property have dramatically dropped. Like I stated beforehand, put money into truly property for a house. If you may have to any extent further cash than that to put money into, placed your cash into Certificates Of Deposit at your financial institution - there the cash might be reliable.
2016-09-01 04:47:22 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Check out this web site.http://www.breakingbubble.com/index.htm
Or you can let greed get in the way and be the one holding the bag.
2006-10-30 14:23:19 · answer #5 · answered by Anonymous · 0⤊ 0⤋