The Estate Game, Part II
So, you already know what to do – the plan is to buy old houses, renovate them, and market them for a profit. However, you’re asking yourself, how can I do this? It’s quite simple, actually. All it takes is a quick overview of your financial life. You must ask yourself, how fit am I to venture into new, risky territory. Am I almost done paying off my current mortgage? Do I have the necessary income to take out a second loan and hold on to the house in the event no one buys it? After asking yourself these questions, you must answer them for yourself. Once that’s done, you all you need to do is talk to a loans officer and discuss possible loans and mortgage rates with your bank. Next, all you need to do is look for the home, negotiate it for your desired price, and voila, it’s yours to fix up and sell off.
