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All Forum Posts by: The Menace

The Menace has started 1 posts and replied 2 times.

Real Estate Deal Analysis & Advice

Post: What do you do in this situation? Buying another property

The MenacePosted
  • Posts 2
  • Votes 0

Well the problem is, the value of the house is $15,000 less than the loan amount. If I sell it, I would be owing the bank $15,000 since the value of my house went way down.

0 Votes
Real Estate Deal Analysis & Advice

Post: What do you do in this situation? Buying another property

The MenacePosted
  • Posts 2
  • Votes 0

I have a house and I'm thinking of taking advantage of this great market opportunity to buy a newer house for myself, then rent out my existing house.

Now, I'm worried about the possibility that I won't be able to rent my current house in the future as my house is in a bad neighborhood.

How would you proceed and/or how would you prepare for months when you can't rent out a property? Thanks.

0 Votes