Found Rehab Canidate .... Need Advice
I have found hopefully my first home that I will be rehabbing but I have a few questions. The house has been boarded up for the last 3/4 years and an "instrument of taking" has been filed ? Am trying to locate more information on what exactly that is and how best to go about purchasing it. I have approximately 20-30k available and my fico score is 600 (could be better). Its a 2 family 2 beds/baths will take roughly 55k to rehab it. Similar homes in area are about 318k. Am looking for info how best to buy and where could I get funding for the purchase/rehab Thanks in advance for any help regarding this.
I personally have stuck with the same plan. It works for me. I buy land in up and coming areas, build a house and sell. I will continue doing this for awhile, since it is still working, I am still making a profit.
I do think about investing in other ways and I do a lot of research in all areas of real estate. I may state rehabbing one day.
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I stick to the same basic inventory of SF houses/condos under 2000 square feet. Rent a few, flip a few. Looking at buying some pre-construction townhouses and selling those this coming year.
Jim
I believe that most investors would agree that our specialization follows the following ladder.
Flip everything
Wholesale what we cant flip retail
Lease option what we cant
Rent what we cant lease option
Give back what we can’t rent
We are all in it for the money.
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