Re: 1st one, comments, input?? - Posted by JeffB (MI)
Posted by JeffB (MI) on March 08, 2006 at 14:31:08:
It certainly does not hurt to go look at it, if for no other reason than to meet with the PM as you suggested. Even if this particular deal is no good, she may be able to point you in the direction of other sellers who may be motivated.
I’ve never dealt with roof work, but floor work is a snap. Be careful if the thing is in really bad condition and you’re new to fixing things, you’ll have to budget for rehab and holding costs – but most importantly, before you do anything you had better know what the home will sell for in your area. Lonnie recommends selling for at least twice what you paid, my personal rule of thumb is 3x what I paid, but do what works in your market.
Let us know how it works out.