But the smell when going into the house is incredibly bad. Seriously I can take a dead person smell very well but this is worst. Do you think there is a serious problem with the House itself… selling for $49, comp out at 105k need about 35+ to 40k or less, high crime area with "female soliciting at night. But area is undergoing revitalization now which may not be like this in the next 3-4 years. Worth to take this on?? What about the smell. Not even sure if it is a mold or some problem…
looks like your rehab number is a guestimate at best so with that said, where is the profit??? smells like a bad deal
I think the margin is really quite small but the area is in the stage or process of becoming quite big someday…I am not sure if buy and hold now.
I agree with the other two but “females soliciting at night” could be a big selling point!
Nothing construtive to add, but this was funny. LOL.
if you’ve done your homework, and the property meets your return on investment criteria, you might consider tying the property up with an option contract. instead of commiting 80k-89k you may be able to negotiate 12 months for $1000. this will buy you time to see if the area continues to improve. can you describe the smell?
-h