I am a young, 23, and very intrested in real estate. I love to watch property buzz on HGTV! I live in deep south texas and prices are significantly low compared to the rest of the country. I could get a 4 bedroom 2 bath for under 250k! I have looked at prices and the market in my area. What would be the next step? And when looking for a bank to have my mortage, do i mention i am going to be fixing & selling within a year or so? If i get a 300k and buy a 250k home can i use the extra cash to remodle or make the monthly mortgage payments, how does that work?
Any website recommendations?
TIA
2007-03-21 22:39:07 · 2 answers · asked by cjr_mamamia 1 in Business & Finance ➔ Investing
yeah you should do it..... it's good money....
2007-03-29 21:50:49 · answer #1 · answered by ♥Cutie Emily♥ 5 · 0⤊ 0⤋
I'd advise against it. You've missed the boat. The sub-prime mortgage market is imploding and housing prices are stagnating. Foreclosures are at an all-time high, as are inventories of unsold homes. Freddie Mac and Fannie Mae are overextended.
2007-03-21 22:41:49 · answer #2 · answered by Anonymous · 1⤊ 0⤋