4 ms·
It's viable. Just make sure you get an inspection prior to buying the house (usually $1000 and under for this) to avoid getting a money-pit. Save a chunk, say 2
by tabeth 9y ago
It's viable. Just make sure you get an inspection prior to buying the house (usually $1000 and under for this) to avoid getting a money-pit. Save a chunk, say 25%, of rental income and just hire people to resolve minor problems.
Again, if you decide to do this get an inspection. You will be screwed if you buy something with structural, plumbing, electrical or foundation problems (which are technically structural, but I put in its own category since it's that bad).
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That being said, you're definitely going to want to learn how to do some basic stuff like drywall, change outlets, tighten pipes, etc.