Then I spend about $ 30,000 to fix it up because it needs a lot of
work but
maybe I get $ 45,000 - $ 50,000 worth of value out of that
rehab because my contractor is better than everybody else's contractor because I've spent a lot of time finding the best ones, okay?
Whether it's a fix and flip deal or strictly a
rehab, or
maybe it's a bridge loan or transactional funding; even a construction or equipment loan... The sky's the limit for wise investors who understand how Hard Money Lending
works, and know how to use these tools to achieve the financial freedom they've been seeking.
Looking at listing may not need full
rehab, new roof and water heater done, 3br in neighbor run 900 to 1000,
rehab for low maintenance, try to buy as low as you can, look at comps, probably could go in as low as 38 - 42 with good agent and stress as is,
maybe a few agents here to help, get one to give you good numbers not listing agent numbers, street is a nice one for area, not much back yard or parking but nice front, before you close make sure vacant contingent, if numbers
work I would do it, the are predicting an abundance of rentals avail next year with building craze but keeping expense low you should be safe, remember don't
rehab as if you are living there, think durable and repaintable, number should go into systems and structure first, elect, heat, walls, windows, floors, plumbing, if you use a contractor go with one you know or
work with someone in area to keep an eye on progress, good luck at least you know some of the history of the property