Would it be smart to get into? Does anyone on this site buy/sell houses? I've been considering it because there are some cheap houses out on the market, that from the looks, just need a little TLC. I'm aware that there's more to it than that but my parents have done it in the past so I could lean on them for advice. Also, my father is a carpenter so that side of it is covered. Just seeing if anyone does this and looking for any tips that you're willing to share.
There is some things to look into. If you are looking to mortgage a house, many mortgages don't allow you to sell withen a certain time period. Also understanding the market in the area and knowing what you can get out of it in the end. All things are fairly easy to look into. I think that it can bea good investment in time is taken and it is done conservatively. Just from my experience.
Land. But all you can because their not making anymore of the stuff I own a few homes as rentals and long term investments. I personally buy homes that I would live in myself in nice area. They hold their value well and are always easy to sell. I just fix them up so I can get a higher end renter and let them help pay off the mortgage. Got hurt in 05 a little but held on and now it's paying off well. Good luck.
If you can spend the time fixing it up I'd say it's worth it. I will never do that because I don't have the time nor expertise. But I do plan on buying good homes. Several of them
