I had always talked about wanting to do it, and actually before we were married I bought a condo that had instant equity at purchase and cash-flowed from the gate.

I just paid out a tenant last week and she was happy to get a small payday.

Take advantage of the forced appreciation opportunity for some instant equity. 

I really like the idea of a quick payday, however the problem with rehabbing is that it is a J-O-B and also very speculative.

We use Travertine from Home Depot at $2/ sq ft, install ourselves, and get an instant high-end look for the same price as ceramic. 

Banks wont lend you more money than the house is worth.A high appraisal is nice because it is instant equity.

I trust my fellow adult Americans to know how to use the $85 BillionWe Deserve It Dividend more than I do the geniuses at AIG or inWashington DC .And remember, The Birk plan only really costs $59.5 Billion because$25.5 Billion is returned instantly in taxes to Uncle Sam.Ahhh...I feel so much better getting that off my chest.Kindest personal regards,BirkT.

What's more the score for a mortgage lender is NOT the same as the score a utility will see or a credit card or a department store instant credit or even an employer.The credit scores offered to consumers by the credit bureaus uses their own algorithms.

So I had an instant positive cash flow.Next, the option price was for the mortgage balance at the time of purchase. 18 months later I exercised for 25% under market value.

After you have 6 months of cash saved in emergency funds that is.I automatically deduct $400 every payday into my Schwab account and buy the in-house S&P 500 index, with no fee.