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Hey Jared - great plan! Good luck out there with your company!!

Great. I've looked at the link for a few minutes. It has some good info. Thanks!

If you're getting the home built cheap enough, it could be worth it. First, you must consider the cost of tearing down the old home, and removing all the debris. Add that to the cost of building a new home, and see if it is less then the average going price of homes in the neighborhood. If it is, then it would likely be a good investment.

Are others in the neighborhood doing this for investment, or because they want to live in the newer homes?

Don't forget all the hidden costs of tearing down a building and rebuilding.

Thought I'd start a small thread to see what $250,000 would get in different parts of the country. . .

This should be an interesting one! :groovy:

Hey Blane - just wanted to welcome you here! What's a decent 1br condo go for where you are?

Good question - I'll bump ya!

Seems like you're on your way. Most young people can't say they're out of debt. Good work.

I don't know about a linke of equity, but you can certainly refinance a rental property. Refinance and take some money out - almost as good as an equity line.

FYI - Most legit property management companies won't work with you either if you do not have the proper insurance coverage.

Does anyone else think that the big homebuilders are building too much? I was recently in Vegas. Its amazing to see all the new homes/condos everywhere. As far as the eye can see there is building now. I see it everywhere I go - not just Vegas.

What happens if the mortgage rates finally start to climb? Will the construction boom slow, or will there be skeletons of buildings rotting in the desert and elsewhere?