Posted by James Strange on January 03, 2003 at 20:42:20:
Allen,
To know if this is a deal you have to have a plan. Would you be willing to live in it? Could you rent it out for positive cash flow? What would you be able to sell it quikly for? Is this a low or high priced house for the market?
James
Investors - I need your advice… - Posted by Allen
Posted by Allen on January 03, 2003 at 19:08:34:
Hello,
I have the option to buy a $700,000 home for $529,000. Is this a good deal? Should I try and sell the option contract or should I try and flip it? Anyone got any advice? Any investors out there have any advice? Email me at e-cron@ewol.com
Thank you,
Allen
Re: Investors - I need your advice… - Posted by rocky
Posted by rocky on January 03, 2003 at 20:56:06:
Allen, this is a very expensive deal for a 25% equity potential. As James said, you need a plan in place before risking your own neck. Something to look at, though, is what is the average sales price for homes in the area, and what is the average time each home spends on the market. From what I’ve seen, homes that are in such a high price range have a very limited market of potential buyers available. However, I don’t know much about your possible deal, so these are just my opinions based on what info you have provided.
Good luck and good investing.
Rocky.