Newbee Needs help


I found a 2 Story 2 bed locally going for $13,500.

I havn’t went to look at it yet. The price says alot but i’ve seen a beautiful house sell for 12k, in a bad area.

This house is in one of the better school districts of the area.

What can i do. I don’t have 13.5k and would like to pick it up if its not a total dump.

Whats some ideas on what to do with it. and how to accomplish
move in and slowly rehab and have back on the market in 2 or so years.
Sell to an investor (which i really want to be)

Please help… any input, financing ideas. Way to make a profit without much cash input…think thats called assignable contract…

i don’t know like i said i’m new to this and would like to make a move on monday…



Howdy Don:

Hard deals to do. Almost all lenders want a minimum loan of $450 including hard money lenders. Even spending $30K in rehab will not give you a $50K loan. Your best bets are using credit cards, local small friendly bankers ( if there are any still alive) or a private lender. I too am looking for the same but with bad credit it is even harder. I have done 3 or 4 to keep and some others to fix and flip. You may try places like Household Finance.

whats the house going to be worth once its fixed up…Are you buying at a discount??


You have several options here. What are your goals?


Get my feet wet… oh and $$$$.

Not sure on value havn’t been able to get ahold of realtor


Where is the house? Sometimes you can get a the beginnings of an idea just by going to the website of a local realtor in that zip code and looking at what may be similar properties. If you’re in a major metro area the bigger newspapers will list transactions for the past 7 or 8 years for specific streets. You may even see the property you’re looking at and see that it sold for 27k three years ago or something like that. These aren’t perfect comps, but I think they’re a great starting point.


sounds like naperbill like to read the paper ;DI personally like to read the forums and eat cheese ;D

But where can someone find good cheese nowadays? Finding good real estate is easy. Finding good cheese, that’s a little tougher.

This may sound crazy but my cheese comes via uspostal service ;D compliments of…now I cant give all the milk away for free ;D