Posted by keith hutson on June 16, 2007 at 13:15:26:
Yes I understand the mechanics of hard money, the expense etc. The deals I am looking at are anywhere from 35-50% of ARV.
The areas are on the upswing, new houses, rehab houses etc. Our area is seriously deficient in first time homes, builders are not really addressing the need either, mainly due to red tape and land costs.
I have a deal now that should comp at 91,000, purchase price is 30,000. Rehab cost is already quoted by a Florida contractor at $18,000. complete.
We have 5 years rehab and new construction experience.
Thanks, Keith Hutson