L/O - Posted by Jackie_Bolingbrook

Posted by Jackie_Bolingbrook on March 14, 2000 at 24:56:36:

I’m doing a test ad in the sunday paper to determine the interest for L/O’s. I would like to know if the avg market price for homes in my area go for 125K & rents being charged on 3/1.5 are at between 1100 & 1250 would it be feasible to attempt L/O in this area or do I need to begin in a market where rents run in the area of $600-$800?

Also, I bought my own home using CS method & via the government programs where they pay the down payment via a grant. As long as the property is owner occupied then the grant is forgiven (need to remain in property 5yrs). At some point in time I would like to L/O this property & move to larger quarters. Would that be feasible???

I’m a newbie to the investment area & looking to start this business the least expensive way which is why I thought L/O’s would be the easist/least expensive way to get the ball rolling.

I discovered this site about a week ago & have been reading & absorbing all that has been said. I’m finding it to be very educational.

I’m a single mom w/ 2 kids graduating this June. One from junior high, & the other from H.S. & on her way to ‘MSU’, so I could use all the extra money I can generate between now & the end of summer. I apologize for the length of this note, its just that I have so much to learn. Thanks.