(Besides a huge reduction in cost)Is it wise to have the idea of a complete demo and remodel?

We keep doing the property management, demo, and major renovation work ourselves because that brings us joy!

Pretty quick response but I wasn’t in the middle of demo.

One question that has been on my mind is the possibility of locating a property that is so dilapidated that it may be a complete demo or gut; thus, making the land worth more than the structure.

Sometimes those problems are so severe there is no easy correction other than demo and starting over.

We closed on a short sale (after nearly 5 months) and have the HUD and were getting ready for demo when we received a call from the seller's agent.

I plan on remodeling and living at this house with my family for a while (10 years plus if not much more).I am planning on putting 20% down and will have around $65-70k in to put in the remodel, however I need to demo a substandard bedroom (converted garage) and add a proper master bedroom/bath.

In order to not lose my tenants I signed with a contractor for $3200 to DEMO the basement to make my property back to liveable condition ASAP.For those independant contractors out there.

You could demo the building and sell the lot to a corporate company for big money.Walgreens and CVS will pay about 1 million to 1.2 million for a 1.5 to 2 acre corner location.If you take the gross income of 18,000 and take away expenses of taxes,ongoing repairs,etc. and you self manage you might be at say 10,000 NOI.10 CAP value would be 100,000k on resale.Take away resale costs and there is not much equity upside in this deal at all.How much is the current rent under market??

That's easier to do with an addition than demo.