Posted by del-ohio on August 31, 2003 at 17:42:48:
Do you have the money to hire someone to do the rehab work?
If you do, why not hire a contractor, or you be the general contractor and hire other people to do the specific jobs required.
If you were closer, and the numbers are correct we would purchase it from you.
Other idea, find a local reia group and find out who b uys properties like this.
If you are planning to flip properties, I always advise people to find a couple rehabbers before they buy fixer-uppers, find out what kind of properties they buy first.
I got a house under contract for $3,500 and would like to flip it. ARV is 65,000 and needs about $20,000 worth of work.
I ran an ad in my local paper (North Central Indiana) that reads as follows: HANDYMAN SPECIAL, 5 bed, 2 bath, $12,500 obo. I know that I could get more out of this house but there are not many investors in my area to flip to.
I can’t believe the people who are calling! They’re just tire kickers, with no money and no intentions of buying my house. Why do they bother calling?
After my weekly ad runs out (tuesday), then what should I do?
In addition to what del-ohio said, you might want to go to your local foreclosure auction and talk to the bidders. They are the most serious and most qualified buyers you can find. Pay particular attention the ones who bid vigorously but did not get a house that day. They may be chomping at the bit for a good rehab job, and may not want to wait for the next auction.