We did this with our property and had no issues with our bank.

No, not in foreclosure, just need a lot of work.  

Given that the property was worth $390K in its current condition, I saw an opportunity to make the numbers work while keeping my upfront costs low.Instead of increasing my cash offer, I negotiated a $25K down payment with the seller carrying the balance for two years through owner financing.

No properties yet.

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

I think it depends on the area and insurance costs.

cost of doing the deal. 

@Mike Levene cost to build per square foot is $200-$300 depending on finishes.So, you can start with that.

I am open to it- but unfortunately, I am not looking to move until another 2-3 years- my partner and I rent an apartment on IOP and we love the location and the cost is actually incredibly low which is great.

A deal that’s “close” but not quite right can still cost you big.