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Updated over 8 years ago,
Make money on a new home?
Hi. After reading all the books, I have decided to purchase a new home-but with the intention of renting out two rooms, and still make a profit every month that I can save to reinvest later. I don't ever hear much about this, so I am assuming it may not be the way to go. I didn't go with an older fixer-upper because I do not have the funds to fix up a house.
My question: my plan is to still slowly fix up my new house with better upgrades. Do you think in five or six years I will be able to sell the house for more than I paid because of the upgrades, and make a profit? If not, how long do you think it might take for the property value to go up if it is going to?
Thank you,
Lisa
Southeastern Wa