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Updated almost 5 years ago on . Most recent reply

User Stats

967
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383
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Kirk R.
  • Peoria, IL
383
Votes |
967
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Hard property Fixes you avoid investing?

Kirk R.
  • Peoria, IL
Posted

What things do you look at & walk away from when you see them?  Anything can be fixed but many are cost prohibitive. 

I looked at a property.  Gorgeous on inside with great river view. 

Has water sloping in.

Horrible parking. 

Big Trees overhanging. 

built on side of hill that appeared to be eroding 

Other tthings I've seen are where had to walk thru a bedroom to get to another bedroom.  or garage had to walk up 2 flights of stairs to get to kitchen (hey i needed to lose some weight neway :))

If you find a million dollar house & pay $500k. probably lot more wiggle room to cut down trees or fix something.  my market is around $100k.  so if you get a property for $70k pretty easy to spend $30k on rehab. 

What are some things that you see in a potential investment property that you make quick decision to walk away from?

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