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Updated about 5 years ago, 11/27/2019
New to the forums , just had some questions????
Hey guys! my name is Antonio new to the forums, been listening to the podcast lately and wanted to ask a few questions.
1. My moms mortgage will be paid in a few years and she wants to downsize. The house needs to be fixed up a bit, I would say maybe a $20,000-$30,000 rehab would need to be done to get the house up to par to sale. I'm not very experienced on estimating rehab cost at all so that could be way off. The house was built in the 70's as with most of the homes in the neighborhood. The neighborhood is Forest Park in Cincinnati, Ohio if anyone is familiar. She paid 61,000 roughly and Zillow has it estimated at 117,000. Is it worth it to try and fix it up with HELOC and try to flip it; or should we just sell as is and get what we can get? I'm wiling to invest in the house as a flip. With that being said, If there is no equity in the house don't really have money to put in the house to fix it up.
2. Also, Im thinking about getting a real estate license in the Cincinnati, OH area. Do you think it's worth it?
3. Lastly, any advice as to how I should start off investing, I don't have a lot of money, However, I'm saving now and I'm looking to possibly get a duplex, live in one side and rent out the other. Is that a good move?
Thanks!