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Paying Cash

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halo101proof Joined: 01 Mar 2011 Posts: 1 1.34 Dollars($)	Posted: Tue Mar 01, 2011 10:32 am    Post subject: Paying Cash Like 0 Dislike 0 The question is if I have 100k cash and I wanted to purchase a house of 100k. Intrest rate currently @ 4.375% 15y, 2.5k closing cost 6.875% total 1y target. So then rent it for atleast 10out12months for 8% return +5% return on market value = 13% return on my money. So with 13,000 in hand I would sell the house. Reinvest into a short sale, or foreclosed home. Then repeat steps via you dont get screwed. Is this a good way? Oh taxes too.. yea yea but most investments will get taxed unless its a tax differed account. Im just looking to make a living on the side so that I can live the American Dream.
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Tue Mar 01, 2011 8:00 pm    Post subject: Like 0 Dislike 0 Hi halo101proof, The idea is good but in today's market situation, it is not very easy to sell off a property. So, if you're unable to sell off the home, you will be in trouble. Thanks

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