I have just completed Deans book and am so excited over the posibilites that lie ahead and want to get this party started! I am quite fortunate in my situation both credit and savings wise so funding is not a problem. But on the other hand, my current income has dropped due to being cut to a part time position at work. (the bright side to that is that i have TIME) So, my basic question is how do I caluculate the purchase price range I can hunt for? Because no matter how much I may make when the market turns - (I figured I'm in a temporary hold market)if I cant find a renter right away I will be the one paying the mortgage. And after countless hours of researching houses in good neighborhoods in my area of Jersey they are not going to be in the 40-60,000 range like most of Deans stories. So how do I calculate a starting market figure for myself?
Thanks so much!
Determining what price range I should be looking for