Skip to main content

I Buy Houses

I am currently finishing up the sale on my parent’s house, who have now passed away. Hence the flair.

When I got married, I had lived in my house for 17 years. There was no mortgage on my wife’s house, so obviously we moved there. I was a single man with a child, I didn’t have money to upkeep and maintain the house as well as needed. I opted the We Buy Houses route. They bought my house for $55k (which was less than I owed at the time!) and flipped it for $105,000. (I have to drive by it a lot)

Now that I am coming into some money, and hate my current job, I’m wondering is this a viable route as a profession?

I have a great realtor who has been a family friend for a long time. He has connections to contractors, etc. Sold my mom’s house over asking price in 4 days.

Pros and Cons of entering this? I know the market is different than it was when I sold 2017.

Is $120,000 enough to start with ?

What type of loans are available ?

Am I crazy? I’ve always wanted to work for myself. I got laid off from my career job, had to take a call center job at 43 y/o. It is soul sucking. The time for change is now.

submitted by /u/ThaAnswerMD25
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1kxbp7x/i_buy_houses/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

How to get started?

Hi! I’m 23F and I just graduated college with an english degree (😅) but i’ve been working in nonprofits since I was 16 and lucked into an amazing first job with an one of the biggest and best real estate non-profits! I love my job so far, but it’s my first time being surrounded by such wealth (and very hard working, deserving individuals.) To be quite honest, I‘ve had a rough few years juggling multiple jobs to finish school, and the idea of myself not living paycheck to paycheck seems light years away. This is all being said, I guess I’m posing the question towards the group of what I can do now to start building that kind of future for myself. I find real estate very interesting, and i’ve loved learning about all the machinations behind development- I’m just not sure where to begin within the industry (investment/rentals are definitely not an option for me yet). I’m also looking to go back to school, but being that I don’t know where to start, I wouldn’t like to begin classes aga...
Post a Comment
Read more