Here’s my dilemma. Hope you guys can help.
I don’t do rehabs. I focus on l/os and sub2 deals. Have never really looked at rehabs because of all of the risk involved (holding costs, contractors, slow market, etc, etc).
I have recently stumbled on a deal that looks pretty tempting though. Here are the numbers and circumstances. Let me know what you think.
House appraises at 126k. It has been involved in a fire and needs to get a new kitchen. The seller is looking to sell for around 40k. So, I figure even if it has around 35k in repairs that are needed I would still be into it for around 60% of the ARV. So I guess my big question is -
Deal or No Deal?
Thanks for the feedback in advance. :beer