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Updated over 5 years ago on . Most recent reply

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Dustin Mathenia
  • Flipper/Rehabber
  • Dallas, TX
157
Votes |
174
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I did what Josh Dorkin warns not to do

Dustin Mathenia
  • Flipper/Rehabber
  • Dallas, TX
Posted

So I bought this house in Montgomery Alabama sight unseen on eBay for less than 4k$ it seemed like a good deal not in too bad of shape a previous duplex a few miles from Alabama state. I've worked construction my entire life and done 1 live in flip and one extremely extensive remodel where all we saved in the house was the floor and the exterior walls . So knowing I could easily drive from California where I live to Alabama to fix up this duplex and sell it or rent it seemed to be a no brainer. After I purchased the property it took me about 7 months before I had the time to fly out and see what this place really looks like long story short on the drive there we passed 4 bail bond places going deeper into hood. I wouldn't say I was afraid to be on that street in the daylight mostly because 90% of the houses were completely ABANDONED! By the time I pulled in front of my house I knew no one would ever want to live here. The house wasn't in much worse shape than I thought I could have easily fixed it up but I have since decided to cut my losses and sell it on eBay never buying sight unseen again! I mean unless it looks like a really good deal lol

  • Dustin Mathenia
  • Most Popular Reply

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    Joshua Dorkin
    #2 Questions About BiggerPockets & Official Site Announcements Contributor
    • BiggerPockets Founder
    • Maui, HI
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    Joshua Dorkin
    #2 Questions About BiggerPockets & Official Site Announcements Contributor
    • BiggerPockets Founder
    • Maui, HI
    Replied

    Sorry to hear that it turned out that way.  If you have a process, this can work, but for the average person -- especially new investors -- I believe this is a bad idea.

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