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here's an honest naive question;
- i bought my house 7 years ago, enjoyed the profit, never looked into the condo market so i know very little about
is there still lots of money to be made in the presale and flip market? there must be alot of you still doing this so you must all think that prices and DEMAND are going to continue to rise
i'm looking for a good investment and considering this avenue, or even keeping it to rent out once complete if needed
what's the typical amount (percent i would guess) required for a deposit?
obviously nothing else is needed until closing correct? that's when the mortgage will kick in....now are you able to get a mortgage now that will start in 2-3 years locking in todays rates or do you need to get a mortgage down the road risking the higher rates?
i guess in my case i could always add it to my current mortgage at my current rate?
the other catch is i'd like to buy something and use my wifes first time home buyers option....how does that work if we want to rent it out? i guess it doesn't apply? or what if we do sell? if we sell before it closes how does that work? what about after it closes?
thanks
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