Asked by Susan, Texas • Sat Jun 14, 2008
I recently came across a FU for 63,000 (appraisal value is 99,500). I have a home w/ equity. Have 3 children and want to move down to do better for them financially. I thought if I can't sell mine, I could rent it out while living in the fixer-upper and fixing it as I can. I would have to get a home equity loan in order to purchase the other home. I am having it inspected on Tuesday. If it has no structual damage, is it a good deal? Most of the repairs are cosmetic that I can tell. Would my home eventually sell? And I also thought I might sell the fixer upper after I have made some repairs. Trying to make things better for us. THe house we live in now is fairly nice, it just doesn't have a master bathroom which isn't too appealing to people. It is a large home however. Also, this would help me square up a little debt. Any advise? Thanks a lot! Susan
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