The numbers rarely seem to work on rehabs in Connecticut

[Rick Bassett]

I've been chasing deals on single family houses for rehab/rent/hold for a long time and probably to no one's surprise on this forum; the numbers rarely work.

Usually the semi-affordable houses with upside potential are so distressed that after adding the purchase price, transaction costs and rehab costs (even with a fair amount of sweat)that it would never provide a good ROI on either renting or selling.

I try to get sellers agents & banks to see that their asking price doesn't work but they don't seem to care.

I've been successful on too few deals and find myself getting impatient at times but not impatient enough to knowingly put myself underwater on a project. I can't say that this true of others in my market as there seems to be a lot of 'stupid cash' chasing bad deals.

Now if only I could profit from that somehow....