Posted by celeste-fl on July 09, 2008 at 09:56:00:
Yep,bargains on every st
NO JOB, NO INCOME BUT HAVE $130K IN CASH - Posted by Tommy_FL
Posted by Tommy_FL on July 07, 2008 at 09:24:34:
I need to create cash flow to live. Can you still rehab house for profit in these markets? or invest in small multi-family for cash flow? How can I get a loan if I have no job? I live in Fort Lauderdale, FL but now temporarily in Canada looking at Western New York market (Buffalo, Rochester, Syracuse). Any advise. Thank you.
Re: NO JOB, NO INCOME BUT HAVE $130K IN CASH - Posted by Maurice
Posted by Maurice on July 09, 2008 at 08:06:40:
Rehabbing houses is NOT recommended in anything but a red hot market. It always takes more time and money than you expect. It is very easy to lose money and hard to make it back. A fast rising market will bail out mistakes, but in a fast rising market you will make more money by forgetting the renos anyway.
I recommend investing the money in bread and butter rentals where you can get positive cash flow.
Believe it or not I am seriously considering Florida. I hear there are some tremendous bargains. Florida has a history of the most extreme swings in prices, a real boom and bust real estate market.
In the past, anyone who bought in Florida when everything was doom and gloom, has done very, very well.
Re: NO JOB, NO INCOME BUT HAVE $130K IN CASH - Posted by DJ-nyc
Posted by DJ-nyc on July 07, 2008 at 14:46:03:
Wow! It is interesting to see Investors go from Sunny beaches in FL to the Mountains of snow in Buffalo!
Properties are very cheap in Buffalo - but so are the rents… I can see the business reasons though.
Don’t forget your sheepskin coat.
DJ-nyc
buffalo is great for cash flow but - Posted by steve
Posted by steve on July 07, 2008 at 13:25:47:
the winter su*ks.
Ft. Lauderdale is also overpriced.
many HUD properties in buffalo.