Property: nice neighborhood, run down - Posted by GregW

Real Estate Investing
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Posted by Laure on May 28, 2000 at 08:50:46:

fixer uppers come in all price ranges. Not just the lower priced ones. I specialize in the price range where the first time homeowner will be buying. I guess that puts me in lower priced homes. But one step above the dirt cheap stuff. My buyers don’t want the older neighborhoods too often. Easier for me to work with a home that was built after WWII. They seem to be my best sellers. And cost me way less to rehab. Those old 100 year old houses (money pits)I stay away from them like the plague. Except for this one… I just got for 17k, and it will rent for 650/mo. Only needs a new roof. Uh OH… I broke my pattern. My point is, don’t try to second guess the guy you are flipping to… come out and ask them what they want. Nobody says no to a good deal.

Laure :slight_smile:

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Property: nice neighborhood, run down - Posted by GregW

Posted by GregW on May 28, 2000 at 02:07:04:

I have been studying a course recently from which I am getting the feeling that fixer-uppers for wholesaling are easier to unload when in a low or moderate price range. I figure this is because there is less risk/initial investment for the bargain hunters I need to find to buy the property.

Are fix-up bargain hunters interested in high price-range fixer-uppers harder to find?

I ask because I recently came across a fixer-upper in a high price range neighborhood. is it worth investigating? and am i right about my assumption that more expensive houses are for lease-optioning, while fixer-uppers should be in low-price neighborhoods?

thanks in advance
greg