Bring some people with you to do the estimating of repairs, so you will know what you are looking at!

I just crunched the numbers and they seem to jive...How old is this property, what repairs are going to need to be made, and have you had any inspections performed on the property yet?

If we do not close for the full amount in 13 months, all repairs are free and clear to us.

The deal was that if we bought a house, he would be the CASH man, as he has plenty, and I would do all the research, and repairs and paperwork ect..He was strictly the bank, as I said, he likes the easy street.Anyway, I busted my *** for 8 months tring to find that great deal.

For example:You can not charge too much rent for a given appartment (max would be app 600,= EUR/month)You can not evict renter: renter protection is really extremeYou can not raise yearly rent by more than the inflation rate (this year 1.6%)Most mortgage's are guaranteed by a special fund in case of defaultI'm targetting on appartments with after repairs value 100.000,= EUR (give or take).

Use the HML and while doing the repairs, start working with a lender on the refinance.

We look at houses, evaluate the repairs, and make offers.

For all properties we sell we have work crews to do any repairs big or small that are needed.612 Highland AvenueTurtle Creek, PA 15145Ask: 15kValue: 60k - 70kCheck out the complete details by clicking the link below.http://listings.realbird.com/Real_Estate/Turtle_Creek/PA/C5C2C2D4/62933.aspxCall: Dan at: (845) 784-6487 or e-mail: [email protected]

I know I can write off the mortgage interest and the taxes I pay.I put some money in this house to get it liveable, so it wasn't unnessasary repairs..

. $70 monthly (IO) so as long as you can get $70 more for the larger of the two, you will be fine.Also, the larger house needs less repairs according to your figures and is newer (better resale value down the road & possible less capital expenses).In the end, it is a personal decision you must decide and above are only my observations.