A Conversation for Tips on Buying a House

Just bought one yeaterday...

Post 1

Britwannabe {......... }

The price of the house was $60,000. The person that owned it needed out fast. I offered $59,000 with a $6,000 rebate. This means at closing, the seller will give me a check for $6,000 (that together with my own $6,000 will give me the 20% down payment). I plan to rent the house for $700.00 per month, which, after my payments, taxes, insurance,, etc. will pay me $150 per month. After 20 years, I'll get the entire rent plus I'll have a house someone else bought for me! (If it all works out) All for a $6,000 investment.

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Just bought one yeaterday...

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