Do you make a big profit on rehabs - Posted by Cheryl L.

import · March 20, 2001, 5:38pm

Posted by Cheryl L. on March 21, 2001 at 11:13:35:

Thank you Dave & Aaron for responding! So knowledge is the key huh . . . I will have to be doing some serious researching. Thanks again!!

import · March 20, 2001, 5:38pm

Posted by Cheryl L. on March 20, 2001 at 18:38:02:

My husband and I are thinking of buying Carleton Sheets’s program but we only want to get into buying fixers and re-selling them. Can you make a great deal of money doing that? Does the Carleton’s program go into great detail about this? or our would we be wasting our money on this? We know it is going to be a lot of work but we are up to the challenge!!

import · March 21, 2001, 3:57pm

Yes - check archives in Main News Group - Posted by Frank Chin

Posted by Frank Chin on March 21, 2001 at 16:57:41:

There are many posts in the main news group on this subject if you search the archives under the keyword “rehab”. There’s one post by a very active rehabber that goes into the economics of rehabbing:

http://www.creonline.com/wwwboard/messages/10405.html

This fella does about 15 rehabs a year making about 20K each. So there’s no doubt that money can be made.

Currently there are seasoning issues meaning you may have problems selling the rehabbed property to a buyer if you had the property less than 12 months. Search under “seasoning” in the main news group.

Hope you’ll have fun rehabbing

import · March 20, 2001, 8:37pm

Re: Do you make a big profit on rehabs - Posted by Aaron

Posted by Aaron on March 20, 2001 at 21:37:44:

Hi, yes I would agree with Dave, yes there is serious money to be made, but I would suggest that you get a coulple of rehab books suggestions (Buy It Fix It Sell It) and (5 magic paths to a fourtune in real estate) the are both great books and well worth the money.

import · March 20, 2001, 7:01pm

Re: Do you make a big profit on rehabs - Posted by Dave Mckee

Posted by Dave Mckee on March 20, 2001 at 20:01:08:

Cheryl,
Yes, it is possible to make serious money doing fixers. But, it’s not guaranteed. Learn about real estate, about repairs and about marketing. The more you know, the beter your chances. Remember, if you pay too much, you won’t make a profit. Buy it right or don’t buy it. Know what it will sell for when it’s finished and what it will cost to fix up, then allow $20,000 for profit in what you pay for it as-is.
Good luck!

Dave