How to evaluate foreclosure properties

[Andrew Diamond]

If you can't see the inside of a foreclosed property, how do you estimate the cost of rehab and ARV?

Cheers,

Andrew

[Chris Seveney]

@Andrew Diamond

I can see others say assume the worst but before doing that - so you have experience in renovation and construction?

Why - because those with experience can peak in a window and get a good feel for the potential costs and have done it long enough they will know what it will cost

If you have no experience and “assume the worse” - you are guessing. Not recommended.

The outcome will be you will never win or you will win and wish you had not one.

Again no clue on your experience and not saying you are not experienced but for anyone reading this they should take caution with foreclosures.

We own notes and on occasion have to foreclose, it’s easy to see at auction who knows what they are doing.