Posted by Rich Miller on November 03, 1998 at 16:56:30:
It’s an early home in an historic designated area. I would guess in top shape it would sell in the 80k - 100k neighborhood. It would probably rent for $550 - $650 per month.
Thanks.
Rehab Financing - Posted by Rich Miller
Posted by Rich Miller on November 03, 1998 at 06:04:58:
I have the opportunity to purchase an old home that was donated to a non-profit group. They were going to rehab the house, but time and money didn’t allow it, and the city is trying to get them to do something with it (the owners started some demolition and left it sit). I can purchase the property for $10,000. It probably needs $40,000 put into it. I can swing the 10K, but does anyone have some creative ideas for financing the rehab work? Thanks.
Easy out … - Posted by Redline
Posted by Redline on November 03, 1998 at 14:48:27:
Maybe you can tie it up with a contract, and wholesale flip it to another investor/contractor and make $5-10,000 without getting your nails dirty.
RL
Re: Rehab Financing - Posted by M.G. Ziegler
Posted by M.G. Ziegler on November 03, 1998 at 14:34:25:
What would the property appraise for in top condition ???