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photon · 02-17-2007, 07:02 PM

No question there is demand and you will probably make some money with it, but just trying to point out you have to protect yourself from the other side as well.

But your numbers basically work. I didn't see the interest for the $50k either, but that's probably $500 or so for 2 months..

If you can get a realtor to give you an appraisal of what it should sell for that'd be good.

So it's possible, the biggest factor is the market. If it goes up to $225k you're making some ok money for your investment. But if you list at $225k and all your offers are at $220k, you're suddenly looking at $2500 profit.

As long as you have your backup plan, can handle the deficit position on the cashflow (I personally won't buy a property that goes negative cashflow, but that's a result of my personal situation). Always have a plan B.

02-17-2007, 07:02 PM	#17
photon The new goggles also do nothing. Join Date: Oct 2001 Location: Calgary Exp:	No question there is demand and you will probably make some money with it, but just trying to point out you have to protect yourself from the other side as well. But your numbers basically work. I didn't see the interest for the $50k either, but that's probably $500 or so for 2 months.. If you can get a realtor to give you an appraisal of what it should sell for that'd be good. So it's possible, the biggest factor is the market. If it goes up to $225k you're making some ok money for your investment. But if you list at $225k and all your offers are at $220k, you're suddenly looking at $2500 profit. As long as you have your backup plan, can handle the deficit position on the cashflow (I personally won't buy a property that goes negative cashflow, but that's a result of my personal situation). Always have a plan B. __________________ Uncertainty is an uncomfortable position. But certainty is an absurd one.