Real Estate the Ramsey Way We Regret Buying A Fixer-Upper
Feb 24, 2025
Discover the challenges of owning a fixer-upper and the unexpected burdens it can bring. The discussion touches on how to assess whether selling or renting is a better choice in tough markets. Emotional aspects of home selling are explored, along with practical budgeting tips for building a new home. The podcast also dives into the complexities of securing land in a competitive environment, highlighting strategic renting and property flipping as viable options for financial growth.
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The Fixer-Upper Regret
- Christy and her husband bought a fixer-upper two years ago but found the repairs overwhelming and the neighborhood unsafe.
- They plan to sell and rent until they're ready to buy again in a better area.
Selling and Renting
- George Kamel advises Christy to sell the house, rent, and build up savings for a future down payment.
- He suggests focusing on a better neighborhood and house with fewer problems next time.
Land and Budgeting
- Jennifer, a debt-free real estate investor, has $275,000 cash to build her dream home but is considering flipping properties for a year to increase her budget.
- She’s open to buying land in several states due to low inventory.