Posted by Ronald * Starr(in No CA) on January 27, 2002 at 24:58:24:
$2K is not too bad as a finders fee for some deals. For this one, I agree with you.
It seems awfully tight to me. Paying 85% and you have to get the work done. Now, this may in part be determined by your plan. Long term hold? What rent. What is the cash/cash return, what is the cap rate at the purchase price. Quick turn-over. Could you find a handiperson to buy and do the fix-up work? Or do a take over sj to and then “sell” on a lease/option with the leasee/optionee taking over on the fix up work.
If you can minimize your time investment, this might not be too bad. I am thinking now that the way to evaluate it is to compare it to other deals that might be available now or that you have gotten in the past. If this is better than anything else you can see on the horizon, that might make you a little more inclined toward it.
Nice that you are getting some response from your advertising.
Good Investing********Ron Starr*************