Also, DO NOT use your local building costs as estimates for what a restoration with cost here.

I do credit restoration too, but I won't do it unless you also allow me to establish a 2-year spending plan/budget.

I started looking around using the MLS, but know choosing the right area (and ignoring even certain streets in an area) is paramount to making a good decision and need to start working with people familiar with that area that can work with.While I do have money saved up, I am also wondering how feasible it is to get traditional lending and then going through a private lender to finance the rest or at least reduce the 20% down amount to not down the money into the house – oh, and so that it cash flows?

It's kind of cool as I get to see accounting in real life.In regards to your questions l, the IRS issued new regulations about capitalization of assets, and capitalization falls into four categories, Betterment, Improvement, Adaptation or Restoration.

Lots of pretty smart guys and gals agree that until reasonable affordability (of single family homes) is restored, price corrections are in order in a given market.

Example: Lake found a brand new home in a great area that was foreclosed on the builder; it was appraised at $268,000 and the asking price had dropped to $34,000.† While it had been sitting vandals stripped out the wiring and plumbing so it needed about $20,000 for rehab costs.† Once restored, the property can be sold to a prescreened buyer for $190,000.

[POST REMOVED BY ADMIN - YOU MAY NOT POST ADS IN THIS FORUM. ADDITIONALLY, YOU MAY NOT ADVERTISE AFFILIATE LINKS ON THE FORUMS. PLEASE REVIEW THE FORUM RULES. THANKS.]

JT ** The big question now is whether the U.S. government's move to take over Fannie and Freddie will restore investor confidence in the nation's credit markets, help stabilize the stock market and keep loans flowing to creditworthy borrowers.

I am interested in this house (although somewhat scared by its cursed past) but I don't have a good idea about the cost to restore it.

A few things you'll like to know: What was the source of the water damage, is it dry,was it repaired, and was the damage properly addressed according to industry standards (S520 standard andreference guide for professional water damage restoration).