Good Deals Right Now in Real Estate

Unfortunately, we have a home up for sale right now.  We’re lucky that the mortgage is very affordable and we have lots of equity, so we can wait it out to get the price we want if need be.  Renting it is also an option, and it would be cash flow positive.  But, man oh man, would we love for it to sell quickly!

There are so many great real estate deals out there right now.  There’s one in particular that we’d love to take advantage of–it’s a 1970s brick ranch that is getting close to foreclosure.  The gentleman who lived there passed away.  He had a reverse mortgage that amounts to ~$140,000.  We’d love to be able to grab it at that price and gut it (it’s probably worth $200,000 as is), then sell our current home and pay down the mortgage.

The result would be a house that’s exactly what we want with a huge back yard, close to a park, and our mortgage would be cut in half.

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!