Should I Rent Or Buy, Or Flip

1 Reply

Hello,

I am new here. Very happy to have found this site. Any replies will be sincerely appreciated!

Here's a snapshot of myself: I'm 41, male, recently divorced, my home was foreclosed after my ex lived in it for a year while we were separated. In the final judgement, the debt was forgiven. For over a year I have been renting. My lease is up in 15 days. I'm looking at house rentals between $1200-1500 mo. However, I've heard I can control a house with little or no money down via a quit-claim-deed. I'm wondering if there is a way I could find such a house, and move in while I renovate and sell it rather than rent. In which case, I understand I would cover the existing mortgage until it is sold. 

Again, very new to this, so any input is welcome.

Mark

@Mark Sternal - Welcome to the site. It seems like you may need to do a little reading first. Check out this - http://www.biggerpockets.com/real-estate-investing

It will give you a little better understanding of things. There is a lot of information here so check it out. 15 days is likely not long enough to get started.