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Hey guys,

You might want to look about 4 posts up from this one, "Bird Dog How to FAQ" started by BiggerPro. Looks like what you're looking for.

Or just click here:
http://forums.biggerpockets.com/viewtopic.php?t=9028

8) LONNIE 8)

Yes John,

Barter may not have been the word I was looking for, lol. Thank you for keeping me in check.

8) LONNIE 8)

Yeah, I know that is tough with out seeing it, and more detail etc., but your input is insightful, believe it or not. The street it is on is mainly commercial, but the block it is on is mainly residential. Figure that one out, lol.

Thanks for the post.

8) LONNIE 8)

What would you want to sell?

Well, I tend to be long winded so I was trying to keep it short but...

What I was wondering, is I have a property that I'm intersted in rehabbing, and it has an attached business to it. It's a huge house
and it has a seperate entrance for the business about 20 feet right of the front entrance to the house. If you were to look at the house from the street it would like like a regular house. It would make a great office for lets say a lawyer, private physician, CPA etc.
What I was wondering Austin, would it be easier for a realtor to sell it "as is", or would it be better to "convert" the business portion of the house back to being livable space, such as bedrooms / office etc?

Hope that clarifys a bit...

8) LONNIE 8)

Cindy,

That's a good point, and that is something we will definitely consider looking in to. I would imagine that's the case with this property. It looks like a giant house, but it's got a seperate entrance to the far right of the front door. If I were to get the property, I would like to convert the 4 offices into a giant master suite/bath, and a nice front office with a view of the front yard. But thats just a vision right now...

8) LONNIE 8)

PS: Did you get my other post on your classified?

Thanks for the reply John.

We're looking to get the property for 80-90k (list is 109k), it needs approximately 70k in repairs. As I said, we looking to get at least 250k out of it, and may be able to swing more. We are buying outright, so there will be no interest, or mortgage.

$250,000 After Repair Value:
x 70%
-----------
$175,000
- 70,000 Repair Estimate
-----------
$105,000
-10,500 Holding/Closing Costs
------------
$94,500 Maximum Bid

The 2 questions I did have John are:

1) Do you still figure in any cost of money even when you buy it outright?

2) We plan on holding onto the property for about 6 months, so that we can sell it in prime selling season and make the house mint. How do I calculate taxes? When are they due?

Thanks for your input...

8) LONNIE 8)

I agree John,

I was thinking more on the lines of $250-275 which would be a little closer to the neighborhood. Also it is in close proximity to a hospital, a very large corporation (about a mile away), and a short shot downtown for a professional or ceo type.

I would love to own this house after it were done, if I could afford it.
Anywho, thanks for the reply.

8) LONNIE 8)

Any heelp would be appreciated at this point. Any noobs out there willing to take a shot, by all means...

Anybody have some input on this one?