You can put some lipstick and a party dress on a pig, but that doesn't make it a princess!

I didn't find any major structural issues and I plan to have a home inspection sniff out component defects which will be deducted if found.I am anticipating a generic 'lipstick' remodel to the tune of $10-12k max.I plan to list flat-fee MLS for $400 with 3% to buyers agent $6900 .I'll have to evict tenants.I'm factoring a 3 month holding time (although I suspect it will be less from what I've been seeing w/ properties at this price point).I'll be financing it.I'm paying closing costs (Title, escrow, etc) $2500?

The value is also considered compared to similar assets in similar condition, the reason for comps.The reason MH dealers are in a position to rip off unsophisticated buyers is due to several issues. 1. an appraisal is never used in seller financing these old rehabs, or throwing lipstick on and 2, The value is not easily ascertained by the public.

Plus she is paying top dollar, so the area has to apprecate faster than her house becomes dated.We buy short sales, good bones in great houses that need "lipstick".

Lipstick (i.e., paint and carpets) for a half million dollar, 8000 sq.ft. house could easily be $15k20K.

If its been lived in for seven years, rest assured it needs at least the lipstick items.If you're wholesaling, what do your buyer's want?

My gut is he put a real shiny shade of lipstick on a pig.

The plan is to do a mainly lipstick renovation.

Purchase price is $88/sq ft and the house I'd dated but clean and well maintained.avg price in the neighborhood is $120/sq ft so it's a good buy that needs lipstick, but their has not been a single property updated in the neighborhood.

While wearing the hat of an official I bought or would have taken houses for redevelopment and while the price was fair we sure didn't consider any income angle, it was market value to comps and depreciated.My thought is that if you buy trash and put lipstick on it, you have better looking trash to rent that will likely attract a tenant that likes good looking trash or at least is willing to live with it.