To Rehab or Not to Rehab?

[Julie Desautels]

Hey All!

I am researching buying a SFH rental property. A lot of people talk about this process as buying a house for cheap, renovating it, and renting it out.

While I am willing to learn, the facts are I do not have any renovation/construction experience. I am wondering, have any of you purchased a newly renovated property and rented it out? 

I see some houses for sale that have been renovated, and on the market for over 2 years. It doesn't seem like there is a demand for people to buy these houses in this neighborhood (big military town seems to promote more rentals). I have watched the price on one house go from 60k down to 40k. Do you believe there is an opportunity to purchase and rent a property like this?

Look forward to hearing about your thoughts and experiences!

Thanks!

Julie