Who knows? If I weren't in the middle of renovating my future home - a
bargain in a posh suburb - I'd be foolishly tempted myownself.
Hell, I'm only a mile or 2 away - it wouldn't hurt to drive by just to
read that sign above the entrance...
I'll just empty my wallet first just in case.
Was just talking to my sil last night as he wants to start doing this.
I have watched others do it, and it is a heck of a lot more work than it
appears going in and you never know what you are going to run in to. A
lot of sweat equity goes into those fixer uppers if it is done right,
and if you factor that in, you aren't always that much ahead in the long
You have several options, but I wouldn't be to quick to bail out at this
point although that may be your most viable option now.
I'd sure check with the city like some posters suggested. Mine has
neighborhood grants and low-interest loans for neighborhoods like this.
It's to the city's advantage to give low-cost loans, etc., to
refurbishing properties in deterioating neighborhoods. Raises the tax
That property in Texas sure looked interesting and tempting! Couldn't
stand their hot summers though, bad enough in the midwest. You have to
live near where the jobs are or make your own.
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