All Forum Posts by: Annette Ross

Tyler, thank you for your response. I have noticed rental prices seem quite high in comparison to property prices and it seems that there are fewer rentals than homes for sale.

Can anyone tell me is single family housing is on the rise or fall in the market right now?

Another question for the pros here. Looking to buy a home near Fort Worth, if I put say $40-50k down on the house does that look good on paper? Does it lower the loan pmt much on a $150-200k home?

Renting vs buying.....I was thinking of purchasing a home that I could do some extra work to and turn, no major over-haul, something simple....I have done this several times and have done well (just not in the Fort Worth area). Let's say I am able to resell in 1-2 years and resale is $10-20k more than what I bought the house for, am I ahead financially despite the closing costs on the buy and sell? I would this be better than renting for $1300-$1500 a month for 1-2 years? 

Your thoughts appreciated.

Michael, this is really helpful input. I have done some searching online and found some homes under $50,000 however I have wondered where in the city they are located and wondered if they could be in a bad neighborhood.

I was reading that if you pay cash for a  house you are looking at paying higher taxes on the property. So to get around that what about putting a down of say $40,000 on a $150,000 home, living in it and teaching piano from home?? Location would be everything in this case in order to make a full-time living from teaching piano.

Thanks Jeff!

Would like some insight from those who have worked with buying real estate as income property. I am currently looking at buying a rental home for less than $50,000 in the Forth Worth area. I would be able to pay cash for this home and then have plans to rent it out. My thought for doing this was to received the income from the property. Is this a wise idea? I have been a landlord before, have had good renters and have had bad renters.

My situation, and perhaps someone can offer an idea that makes more sense? I am going thru a divorce, will receive a settlement. I have been working as a piano instructor from our home for 35 years and have not worked outside of the home since 1994. I am in my mid 50's, debt free. I don't think a lending agency will loan me money to buy my own home due to my lack of job history however I will have this settlement money and was thinking a rental unit paid for in cash might help generate some income for me.

Any thoughts?