4 foreclosures on one block

[Jason Davis]

I have been watching this one block for some time. It started with two foreclosures, there are now four. These are small 3 bed 1 bath homes. The prices have dropped to where they re now half what they started at. They are listed from 35 to 40k. ARV is 89 to 99k.

I have been in each one. They all need the same basic updates, kitchen, baths, carpet and paint. Then all need new het pumps. I think a budget of 25k is realistic

My idea is to partner with like minded investors. Get people who agree to what repairs and listing prices. If we use the same vendors and negotiate together for pricing to keep prices down. I also believe we could get the properties between 25 and 30k. (remember I got the last one for 31k)

What do you think of discussing with other investor I know? Is 4 on one block just to much for one area. ARound this two or three block area are slightly nicer homes. One recent sale of same floor plan but newer and well taken care of home was 129k but nicer block. Then again we would be improving the block a lot.

Thoughts