Posted by Bob Eberle on April 23, 2006 at 20:51:15:
“But again, can you afford the rehab costs, payments on your borrowed money while you fix it and market it, and what if it doesn’t sell for 6 months?”
Dutch, you forgot the insurance on a VACANT building (go price that prior to making offers to buy property), utilities (huge if it’s the winter in a cold climate), permits, registrations, code violations yada yada yada.
If you’re going to put a property under contract know what your exit strategy is prior to buying not after. Those TV shows that are on showing Investors buying and flipping are very dangerous to your health and well being. That’s just my 2 cents but what do I know?