Glad you won't need it now and can even buy him that mansion in Brentwood. 

Think beautiful luxury home with caregivers on site 24/7. 

Luxury Condo downtown? 

Luxury Condo downtown?

Luxury Yacht (with decent expendable income) who owns a 3 year old SFH he rents out at market rate in a class B area to stable renters may make a different decision on what to do with monthly cash inflow than Just starting out on a shoestring and a prayer blue coller worker who owns a 70 year old class C that is overdue for a rehab.That is based on personal ability to meet costs when they come due and the probability that costs will come due.That being said, it's always intelligent to budget for CAPEX using real life numbers vs IRS or guesstimate numbers.You also need money for turns, which includes carrying costs when unoccupied and etc...As well as unexpected costs, such as roof damage, or early appliance failure--such as a refrigerator.Good Luck!

I want to buy a waterfront condo in Chicago. The idea seems very sexy, and maybe profitable, but I'm not sure if it makes the most sense financially  As I see it, the pros and cons are:Cons: Likely won't cash flow in ...

That’s like a luxury weekend at a resort, and maybe the airfare too (I’m sure your realtor loves you!!!)  

That being said there are plenty of other areas such as East/West Oak Lane, Olney, Ogontz, Germantown.In terms of areas to avoid, its pretty easy to point out what areas to avoid, Strawberry Mansion, Kensington, Nicetown.Feel free to reach out if you have any more questions.

You may even be able to leverage a nicer property that will rent easier as a large, luxury STR.

The semi-luxury price point is maybe the most lucrative price point for flippers in Jacksonville right now.