I'm thinking that I might take a chance, and buy a house. For anyone who knows me, you know what a big statement that is. I have taken fear of financial commitment to the heights of mountains, lol! But the thing is, I'm thinking of buying on "the wrong side of the tracks" otherwise known as Charlotte Pike. The area is rundown, and questionable. But a few blocks down, they have started putting in townhomes & condos. Plus there is a new revitalization project going on, trying to bring in new business. The houses in the area are all under 100K. Decent sizes, just in need of some tlc for the most part. And it seems like, with what is going in, I could double my investment in a few years. If not, then I can rent it out. Houses never stay for rent for long. And some of these houses are around 50K. The mortgage payment would be ridiculously low, even if I did a 15 year mortgage. Anyways, I'm kicking the idea around. I'd really like a bit of a yard again. I miss being able to putter around, grow my own veggies and try new flowers. I really miss the veggies. Have you priced a bell pepper or zucchini lately? Craziness.
(the Squawk wants a garden, too)
June 14, 2019
6 years ago
1 comment:
You'll have to have at least 20% to put down after this mess and no negative items. Lending is going to be real tight for a long time.
If you can swing it, do it. If you decide you don't want to live in a house, you can rent it. Believe me, then rental market is going to get real good...Hell, we've debated on becoming landlords.
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