Re: Overcoming impression of Distressed property - Posted by JT - IN (St. Barths, FWI)
Posted by JT - IN (St. Barths, FWI) on July 27, 2001 at 10:01:15:
If you are shocked, or mortified at the appearance of these properties, then I would advise to look elsewhere, especially since you are talking “1st Deal”, here. I tend to think that we should invest a little more in our comfort zone, at least at first. An experiecned rehabber/investor will quickly scout out your discomfort here, and exploit it, as not having the stomach for this type of activity. It comes accross loud and clear in your post, and I do realize you are seeking answers here, but i feel this will be a problem for you in this type of deal.
Look in a little less of a warzone, and put together a safer, even if less profitable, deal, for your first time; which will lead to a 2nd time, vs. getting into a quagmire deal, that could sour you from proceeding further.
Just the way that I view things…
JT - IN (from St. Barth, FWI)