Rehabbers! What are your buying guidelines - Posted by Leon (NC)

Posted by Leon (NC) on June 01, 1999 at 24:46:28:

I’ve been out driving looking for ugly houses and have come across quite a few. One is listed with a realtor. The house is in a pretty good area and would probably be worth 65k ARV with repairs running at least 17.5k. This house is ooold and ugly. Looks to be 900 to 1000 sqft probably 2/1.

If my numbers are correct, hypothetically would you be interested in this house at a price of 20k (this includes my flip fee)? Would this much in repairs be too much for you at ARV of 65K. In order to help me determine where I should be going with my offers, I could really use some help knowing what your buying guidelines are. Repairs to value, only 3bdrm, etc. Where do you draw the line.

I’m currently running ads in my area for buyers and I have questionares ready to send for my files but I would sure like some of your expert input. You guys and gals are invaluable. Thanks.