well, we were about to put an offer on a very cute (look that way>>) house in a decent location when we found out that someone put an offer in that was accepted the day before. "rats!" we said.
then...we went to direct buy (wholesale membership store for household items...) last night and got to talking to the owner about real estate investing. we were there for over 3 hours. my feet hurt and i was very tired but it was worth it. the money we'll save on renovations for our houses will be awesome!
josh's newest real estate scheme is to buy cheap condos in Aurora (blah!), make them decent to live in and rent them at a decent rate. i think it's potentially a safer plan since the real estate market is in a lull right now. while this plan wouldn't give us any short-term income it would secure a better retirement. any thoughts, friends? anyone want to live in Aurora?!?!? hahaha! yeah right!
if we do the condos only we probably won't be staying in colorado much longer.
we'll keep you posted because with josh's adventurous mind things change daily.
1 comment:
no way on saudi aurora! gross. but, ya know i have spoken real estate people that buy dirt cheap condos i mean we're talkig $30K fix 'em up and rent them and then when the market goes up sell high. i think you should renovate an entire complex in capitol hill or something like that. then sell them. but you'll need a lot of capital to start of with. just a thought. it's a good time to buy, maybe not a good time to flip? but maybe a good time buy then rent then flip to sell?
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