Posted by Brent_IL on February 25, 2002 at 14:41:27:
Ugly houses are purchased at a significant discount off of FMV because they need fix-up or just look too ugly. The discount on pretty houses is mostly situational, and not as deep. It’s up to you to negotiate better-than-average terms.
Quick “helping others” example (but not a great deal):
You buy; 100% FMV. 10% down. 8% interest on balance.
You sell; 110% FMV. 12% down. 11% interest on balance.
Your profit is in the spread, and increases as you obtain better terms of purchase. This isn’t a blueprint for action, only an example.