Posted by Brad (GA) on December 03, 2000 at 09:55:56:
Thanks JohnBoy! Here’s the numbers:
Selling price: 150K
Rehab costs: 45K-50K (give or take 5K)
I would really like to refinance and hold. This duplex takes in about 2-3K / wk in the summer (on beach). I already have a bank that will refinance 90% of the value. I’m hoping to pocket some green and keep it. If I can’t afford to keep it, then selling won’t be a problem.
But being that I’m new to this, its a heck of a lot easier on paper than it is in reality.