Posted by Bill on July 10, 2002 at 06:23:13:
Paul,
It’s not any more difficult, you just have to find the rehabbers that are working in that price range. When I lived in California, we routinely dealt with rehabbers that bought houses in the range of 1-2 million and rehabbed them to the tune of 500-700k in rehabs, then resold at 2.5-5 million.
These rehabbers are usually groups of businessmen, lawyers and agents that have access to high profile clients. If you can find them, they have the money and connections to play. Look for them by networking, by checking permits in the higher end area to see who is buying and reselling, and by checking with high end contractors/remodelers, etc. If you do your homework, they will be able to be found.
Good luck,
Bill