Fix Up Or Just Sell As Is?
I got a purchase contract for $81K on a brick ranch in a good neighborhood that I could either put $3-5K into it and sell for $120,000 or sell as is for $110,000 - Might have to sit on it for a month or so to sell it. Any advice
Advertise for $120K now, and start work on it. If you get lookers before you are finished, you can give them a "discount" to finish the work themselves.
What happened to the other one you were going to buy and sell for $140,000?
still working on that one
handsomeprofit, how do you find these properties?
I'm considering going into REI and trying to find information such as where to look for these properties.
You do realize that flipping it for $110k or putting $5k and holding costs into and selling it for $120K is virtual netting the same profit?
writergig,
what do you have ? where at ?
It's in a town outside of Washington DC (I have a lake house there.)
The town is gentrifying very quickly and this is a FSBO I found through a friend.
I used to live in Southport, BTW, wife taught at Riverside in Greenwich.
How much work does it need? It doesn't sound like a good deal in rehabbers terms... They like to get properties at 65% of ARV minus repairs... 65% of $150K is already under 100k - minus repairs and you are under the terms...
Your best bet is probably to try a lease purchase and then lease purchase it to a handyman...
Good Luck!
[addsig]
writer,
what town/area? We might be interested.
ce42day at (yahoo) or pm (Va, DE, Md investors)