NeoREI Adventure

[Stephen Fryer]

Hi guys.

I took my first steps this week. Selected a market and began looking for deals on Fannie Mae. I found a fourplex that I thought was a good deal for 25K. Other similar units up the street were selling for 200K. Contacted the agent and had a few conversations. When I asked what her feelings were about what amount would be required to rehab, I discovered that the building had recently been condemned by the city because the cost of repairs were more than the value.

Now there's a twist. How often does that happen?

Any suggestions about what questions I should be asking the agent to get the most comprehensive background on a property?

Stephen