Some investors in the south Bronx I spoke to are willing to pay a 5 cap for a turnkey or around an 8 cap for a fixer upper.

Today, in Cleveland, Pittsburg, Columbus, Kansas City, Indianapolis, Cincinnati and many others, you can still find a great fixer upper for $45,000, rehab for $20,000 and rent it out for $1,300 (1,300/65,000=2%)You should take advantage of the opportunity to relocate to anywhere in the country and chase after strong and more profitable deals.

I think I would like to buy rental properties and perhaps a fixer upper if the conditions were right.

However there are plenty of fixer uppers in Albany Park and Irving Park that would be great candidates for a 203k renovation loan.

I suspect they have been greater than 20% which means the seller has the upper hand. 

I am also starting to think about financing outside of the "normal" mortgage lender box as I would like to pursue some fixer-uppers.

The plan is to do a live-in fixer upper that I would then rent after I finished the remodel work.

Can it be considered new construction because the upper lever is new?

I guess they dont add additional value other than being a rennovated property vs an ugly fixer upper property.)

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