All Forum Posts by: Account Closed

I am just starting in REI in the Fresno area. I am in the process of looking into homes for rehabbing and selling. I am looking for a recommended contractor that can help me in getting the job done. Any suggestions? Thank you for your time.

Regards,

Ulises R.

I read through the entire guide, sans clicking on all the recommended links. I really enjoyed reading this guide and soon hope to put some of the ideas into practice. Thank you so much.

Thank you Amanda, Dave and Jo-Ann for your responses. I have though about this property a little more. As a rule of thumb I should use the 70%  rule. With this I should expect to pay around $155k in order for this rehab to make sense. This is not taking  into consideration any repairs due to the drugs. I have seen pictures of the inside but I don't know if any chemicals seeped through the walls. I think I will look at some other opportunities and stick to my early venturing in RE with a little more straight forward scenarios. I greatly appreciate any and all opinions and ideas.  I will definitely look forward to asking any questions I will have in the future.

I am starting to get into real estate investing. There is a 4/2 1900 sq property that has piqued my interest. I can probably get this property for about $178k and the ARV range given by zillow is from $217k to $302k. The main work needed on this property is replace the flooring, update fixtures, paint the walls, clean up the pool and the outside. I expect these improvements to cost no more than $40k. Using comps I get an average price of $258k for the area. Does this sound like a reasonable rehab? The next information is extra and I don't know if I should add but, methamphetamine was cooked in this home and a person died on the property as well, so there is the possibility of drug residue inside the home. Does this still sound like a good deal, and if so should this history be shared with potential buyers? I appreciate any opinions. Thank you for your time in advance.