Posted by Don Dion on January 31, 2003 at 23:05:05:
Hmmm the builder is willing to help out. Does that mean he might be willing to pay the closing costs for you? If so you might want to drop me a note and I can go over the 100% loan program with you. It is perfect for first time home buyers like yourself with 720 credit scores, and is avail in your area.
buying NEW house for rental - Posted by Bev
Posted by Bev on January 10, 2003 at 22:23:30:
I am considering buying a new house, to move into short term (6-18 mo) and then use it as a rental. I live in Albuquerque, NM, and the new housing construction is booming out here, making very difficult for older houses to sell. Interest rates are great, and I have found a very nice new house in a growing area, under 100K, at about $65 per sq foot. Positive cash flow expected to be about $200 monthly.
This is also appealing to me because the builders will work with me more, and possibly even give me a no $ down deal. I have excellent credit, but little $ for a down.
The repairs will be minimal, for at least 10 years I should have no MAJOR repairs because of the new home 10 year builder warranty. Minimal repairs expected.
Does anyone have any opinions as to why this might/might not be a good deal? --68.35.166.51