Serious Fixers in HOT Market - Posted by Sue (NC)

Posted by PBoone on January 09, 1999 at 20:32:12:

“Rent to own” or “FIXER $1000 DOWN” both in bold these two headings work wonders for us.

Serious Fixers in HOT Market - Posted by Sue (NC)

Posted by Sue (NC) on January 09, 1999 at 10:11:18:

I have the opportunity to buy a condemned mobile home with land (for less than 1K) and a seriously run down house (for less than 5K). Both are squatter occupied. Both need LOTS of work (just judging from the outsides). But I’m in Raleigh, where almost anything in a remotely safe neighborhood sells for 40K+, provided it’s in livable condition (my bet is that neither of these are).

Also, the seller is not going to get me in the door. I’m used to buying at foreclosure, so this doesn’t really bother me. I can make contract contingencies to bail out if I get inside prior to closing & hate what I see- but I’m already expecting the worst, and I think the price will reflect that.

I figure I’ll just pay cash if I decide to buy, but I really do not want to spend the TIME on these two properties…
Does anyone have suggestions for marketing these homes to other investors, or getting a partner to trade labor for profits? I’m thinking that my target buyer is a starting RE investor with more time than I have, and perhaps less money. Since I’ll have so little into them, I won’t mind being creative (I buy foreclosures, but I’m generally not a very creative buyer/seller). What kind of ad would you run?

Any ideas?