****someone please read the last part of my post, i really need advice on what to do.well, i took the plunge a few weeks ago and purchased a 2BR/2BA condo through an estate sale. it was in really poor condition and so i planned on rehabbing and renting 1BR out for a bit, then maybe eventually move out after 2-3 yrs and look for a second property to invest in. sounds like a decent plan right?

Rich Dad; Poor Dad" by Robert T.

The developer uses very poor building supplies.

That means ALL of the fine frint.To avoid screwing yourself over, you need to make sure that your decision is based on real life numbers, not "I think it'll sell for x."

Just make sure that if you look at anything built before the Hurricane that you do your due diligence well, like any other place in need some contractors came in a did piss poor jobs on the homes an ran.I have a cop buddy down there too that bought a new home after the Hurricane I want to say he payed in the 120's range or so, nice little place i believe it was a 2/2 I would have to ask, it was in Gulfport.I did see a few weeks ago an REO property just north of the coast line in Gulfport that was a new subdivision development for sale, it has something like 70 plots laid out if I can remember correctly, the website pictures showed minimal readiness and I don't think utilities had been run yet, but I remember seeing the letters from utility companies and the State Dept of Agriculture about the land.

Control: Stock market investing can be tough when you buy your 100 shares and even though you have a vote at a shareholder’s meeting, you watch the company make poor decisions and go-under.

Like I said from his post it sounds like he is lost and has no one and being that he is soliciting on the net where scams run rampant (Remember the poor guy that mentors for a mere 75 bucks?)

Is it a wise decision?

However, the basement is in poor shape.

I've run across deals that have 50%+ equity in them and frankly I felt like it wasn't a good business decision to let it hang out there.