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Updated almost 12 years ago on . Most recent reply

User Stats

18
Posts
4
Votes
Marcy Albrecht
  • Investor
  • Canton, OH
4
Votes |
18
Posts

Wholesalers would you buy this, Rehabbers would you buy this?

Marcy Albrecht
  • Investor
  • Canton, OH
Posted

Property is listed for $75,000. AVR is $ 120 - 125. Best school district in county!
Bank owned!
I would like to get it for $ 60-65 and wholesale it btw $ 70 -75.
Built in 1990 - Ranch - Sewer assessment of $ 5000 plus needs to hook into sewer, so probably another $5000.
Finished basement has black mold and has water on floor. Bank didn't winterize until March and has no electric. So who knows how long it sat like that. Other repairs are new garage door and carpet on first floor. Those are all the major ones.

Should I get it under contract or let it go?? Thanks!

Most Popular Reply

User Stats

208
Posts
28
Votes
Mike LaCava
  • Real Estate Investor
  • Buzzards Bay (Bourne), MA
28
Votes |
208
Posts
Mike LaCava
  • Real Estate Investor
  • Buzzards Bay (Bourne), MA
Replied

Hi Marcy Albrecht - You need to know what the total rehab is going to cost including the mold remediation before I can let you know if I would buy it or not. Without that # you just can't know what price to pay for it. If you have an idea let me know and I can run some #'s to let you know.

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