Reply to Need to downsize but can't get mortgage.....should I look into a hard money loan?

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Reply to "Need to downsize but can't get mortgage.....should I look into a hard money loan?"

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[quote=Anonymous]If you sell 1.1 million and buy 850K there most likely will be no profit.

Real Estate commission is like $50,000, closing costs another 10K. Getting house ready to sell and doing repairs etc as result of inspection another 20K.

Then 10K for moving costs, now you have closing costs new house maybe 10K to 20k and your own repairs and such to house like painting, small stuff of maybe another 10K.

You be lucky to walk away with 40K. Just get a job. Even if you and your husband got average jobs you quickly make 40K. You could get $25 an hour being an overnight nanny or caretaker on Care .com My daughter briefly did it part time for a person on weekends. it is a 12 hour shift, she could nap on couch while they were asleep and got dinner and breakfast. She made it for them. Was getting $600 a week just from that. Imagine you did that five days a week.

Also in sales GM Cadillac and GMC bought pay car salesmen 100K a year. That is a good job if you are good at sales. And with benefits.   
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