MarketWatch warns that those distressed properties might not be such a bargain.
This is a helpful article… basically you need to “do the math” before you buy.
One question I’d ask after reading it though is… “How do you know you’re at the bottom?”
If you could predict that, you’d be a millionaire. The only way to really know is to wait till prices start trending up. But by then you risk losing the investment property completely.
Then it goes back to … how deep are your pockets? If you can’t “flip it” fast and make money after renovations, can it be rented?
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