cjr_mamamia question : What would be my first step to invest in real estate (reverse) ?
I am a young, 23, and very interested in real estate. I love a good buzz on HGTV! I live in deep south Texas and the prices are very low compared to the rest of the country. I was able to get a room for 4 bathrooms 2 under 250k! I looked at the price and the market in my area. What would be the next step? And find a bank, my mortgage, not to mention that I go to fixing and sales in a year or two? If I had a 300k and 250k, a house that I can use the extra money for remodle, or buy to make monthly mortgage payments, how does it work All recommendations TIA website Best answer?
Reply from
thepenismightier
I would not recommend it. You are missed. The subprime mortgage market and the implosion of housing prices stagnate. Foreclosures are at record levels, the stock of unsold houses. Freddie Mac and Fannie Mae are overloaded.
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yeah you should do it….. it’s good money….