Olive Branch, MS · Member since 2013 · 452 posts · 10 votes
in the $90,000 - $110,000 range. Happy Thanksgiving BP community I was doing some number crunching on the Zillow calculator app this morning, and given my budget, I can afford, a max of $75k ( maybe $80,000 ) purchase price on a property. I'm wanting an REO, so that will help me with getting the asking price lowered ( I hope lol ) . Can someone familar with the Mempgis,TN area, name off some good zipcode areas / neighborhoods, of where there are nice homes in the upper region of $90,000 - $110,000 . I'm trying to make sure I focus my time searching for a property, that 1. I will be able to afford ( given DTI, and using the 70% rule as a guideline to base, whether I can afford properties in certain areas or not ). Thank you all for your time and help this Thanksgiving day. Hope everyone has a good one - Michael
@Michael Dunn from what I am seeing you are not following the 70% rule here. If you buy a house worth 90-110K for 75-80k that is cutting it close. Maybe if you are @ 110K and only have 80K in. Zillow isn't a good place to find your real numbers. I would find me a good RE agent and become friends. They can tell you where to look for the properties you are searching for.