my views - Posted by Ronald * Starr(in No CA)
Posted by Ronald * Starr(in No CA) on July 26, 2003 at 07:59:46:
You don’t give us a clue as to your skills, experience, abilities, etc. So it is hard to advise you.
My view: if you are not a contractor and have worked on a lot of properties like this, forget it.
Look at the numbers: Fix up + asking price =/> market value. Now, you’re saying well, “it’s less.” Nope. What about closing costs? What about holding costs while you fix it up? What about 15% contingency for cost overruns?
Besides, you don’t know how to do a rehab, right?
Forget it. Why would you even consider this turkey?
Good InvestingRon STarr****