My husband and I are looking at a house to buy as an investment/rental. It's a fixer-upper and I just don't know if it's a wise investment for us.
The facts:
The house is in a very desirable part of town.
It's priced below market.
The repairs don't have to be done all at once.
It would probably not be hard to get a good tenant.
Our realtor, who is a personal friend and wouldn't want to lead us astray, thinks its a safe bet.
The unknowns:
Though our realtor is sincere, does she really know what she's talking about?
Would the costs of the repairs be higher than anticipated?
Will repairing take longer, be a bigger job, than anticipated?
Will we find a good tenant?
No matter whether it is a good investment or not, is this a good project for us to get involved with?
With so many possibilities and uncertainties I asked the I Ching, "What is the reality of this opportunity?
I received 1.2.3 - 25.
I see 1.2.3. - 25 as saying we're new at this real estate game (25) and we've found a house(1.2) that needs a lot of work(1.3). Okay, but does it say whether it's a good opportunity or a disaster we should avoid?
Many thanks,
Rosada
The facts:
The house is in a very desirable part of town.
It's priced below market.
The repairs don't have to be done all at once.
It would probably not be hard to get a good tenant.
Our realtor, who is a personal friend and wouldn't want to lead us astray, thinks its a safe bet.
The unknowns:
Though our realtor is sincere, does she really know what she's talking about?
Would the costs of the repairs be higher than anticipated?
Will repairing take longer, be a bigger job, than anticipated?
Will we find a good tenant?
No matter whether it is a good investment or not, is this a good project for us to get involved with?
With so many possibilities and uncertainties I asked the I Ching, "What is the reality of this opportunity?
I received 1.2.3 - 25.
I see 1.2.3. - 25 as saying we're new at this real estate game (25) and we've found a house(1.2) that needs a lot of work(1.3). Okay, but does it say whether it's a good opportunity or a disaster we should avoid?
Many thanks,
Rosada