we went down south to check out foreclosures. unfortunately, we spent most of the trip looking in the wrong price range (<60,000) - most of these homes were simply not “easy” resells.
another property we looked at, very nice, it was the perfect rehab project, paint, a few rugs, two busted screens, grass seed and one new door - for 75k…comped at 105k.
the problem: it was on a hill where the driveway was like a mini mountain to get up to. you can’t pull in or out of driveway, without bottoming out.
anothe property was another good rehab. unfortunately, this one was falling into a ravine in the back yard. bank was asking 92k, comped at 130k and over 90 days on market…but it’s no good with house in ravine.
so we’re changing it up and we bumped up our price capabilitites.