DC area Rehab help! - Posted by JoeyoonDC

Real Estate Investing
1

Posted by Gerald-DC on August 08, 2003 at 15:50:04:

Dude:

The DC market is very competive and cut throat. Based upon the types of questions that you are asking, I don’t think you should even think about doing a rehab. If you can get the property under contract, perhaps you can flip it to another investor such as myself.

I caution you to be very careful and don’t take on a rehab if you are just starting out.

2

DC area Rehab help! - Posted by JoeyoonDC

Posted by JoeyoonDC on August 08, 2003 at 11:26:29:

  1. I’m supposed to take a look at a fixerupper this weekend…
    Please provide a checklist of what to look out for when looking at a rehab property.

  2. I live in the DC metro area (live in VA, work in MD).
    Could you recommend any good lenders/hard money lenders?

  3. Once i buy it, I’m guessing that I would have used up a good portion of my money. How then do I get funding for the fix-up aspect of it?

J

3

Re: DC area Rehab help! - Posted by Joe

Posted by Joe on August 08, 2003 at 19:43:33:

Send me an email if you need help with the loan.

Joe

4

Re: DC area Rehab help! - Posted by jp

Posted by jp on August 08, 2003 at 15:55:49:

JoeyoonDC,
What you are asking for would require many pages to thoroughly answer. In fact quite a few books have been written on these topics. While I am not an experienced investor, I would not recommend that you buy this rehab. As with many other things in life, this is the type of thing that requires you to be very knowledgable and very prepared well ahead of time. A good starting point for you might be the books:
“Buy It, Fix It, Sell It, Profit!”
OR
“Find It, Buy It, Fix it”
They are both widely available.

Best of luck to you.