Ask Paula: Should You Buy Real Estate in Today’s Economy?
Afford Anything
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The Pros and Cons of Alternate Plans
If I were in your shoes, I would hold the property and very, very slowly renovate it over time with a positive cash flow. The home needs a lot of repairs but none of them are urgent as in today. By virtue of updating the furnace or updating the plumbing, you now have a home that may or may not rent for more. You at a minimum have a home That would sell for a higher price because it would do better at inspection.
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