[MineralMan]

Personally, I recommend against this course. If you buy in the mid to upper end of the normal market, you're cruising for a possible bruising.

Far better to purchase a dingbat at the lower end of the market, but in a decent area. Put some sweat equity in the place then sell it in a year or two, before that interest-only loan comes due. Buy up, but still not in the range you really want. Again, buy something that needs some work and turn it around, too.

The idea is to build value as equity, increase your available funds for down payment money, then move into the house you want without having that interest-only balloon floating over your head.

Just one homeowner's opinion.

[skraeling]

Far better to purchase a dingbat at the lower end of the market, but in a decent area.

Agreed. Buy the weakest house in the best neighborhood you can afford, and let the rest of the properties pull yours upward as you spruce it up.