Posted by Mark (SDCA) on May 05, 1999 at 16:46:59:
Just make sure you know what your costs are.
Mark
Completely Junked Real Estate: Getting Involved? - Posted by Warren
Posted by Warren on May 05, 1999 at 16:39:10:
Should I get involved with this kind of real estate. I am fliping property and the seller is motivated. Very motivated but the houses are absolutely junked. I could’nt even walk in one there was so much trash and Debri.
The other looked better but I think it will need to be gutted. Any comments and suggestion appreciated.
Sincerely,
Warren
Re: Completely Junked Real Estate: Getting Involved? - Posted by JPiper
Posted by JPiper on May 05, 1999 at 17:57:12:
This is where the deals are. A trash guy can haul the trash out…I recently paid $650 to have the trash hauled out of a house. You’ll have trouble making a deal on a house that has no problems of any type.
JPiper
Re: Completely Junked Real Estate: Getting Involved? - Posted by matt
Posted by matt on May 05, 1999 at 16:59:55:
My first thought is if he’s showing the houses in the condition you described is that he doesn’t care about getting full market value for them. It sounds like he’s cash strapped and just wants out. I’m actually looking for “junked” real estate, because they usually require more elbow grease than money to fix. Just make sure his asking price reflects the house’s condition and that you’ll have enough cash to get it into rentable condition.
Suuuuuuuuuure. - Posted by Redline
Posted by Redline on May 05, 1999 at 16:55:28:
Warren,
Are these houses in decent neighborhoods? Would people line up to buy them if they were all fixed? How much can you get them for and how much would they go for all fixed?
These are some of the questions you have to answer. It may turn out that the neighborhood itself doesn’t warrant spending a dime. Or maybe it does. You need to figure it out because you’re providing VERY limited details here. This is the best I can offer.
RL