These deed restrictions encourage the 'slap paint on a pig' investment style.

If you need some tips perhaps my RE blog and free Foreclosure report might give you some you haven't thought of.The blog URL is below in the sig and it has the request form for the report on it along with a lot of other info.Good luck,donrock

We accept only those articles of the highest quality, unlike many of the other article sites out there.Thanks for another great tip, guys.

Ditto refinishing floors, paint, and new carpeting.Then tell your agent about the shiney new things you want her/him to sell for you to your buyers.

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This way the GC can easily bid out each part of the job, and get me a bid much more quickly than if he has to consolidate based on my "room to room" list of things to do.I'll then have my GC give me a labor bid broken down into the following components:- Permits- Demo/Dumpster- Foundation- Roof Framing- Roof Felt/Shingles- Siding- Gutters/Soffits/Fascia- Decks/Porches- Landscaping- Doors- Windows- Wall Framing/Sheetrock- Electrical Rough- Electrical Final- Plumbing Rough- Plumbing Final- HVAC Rough- HVAC Final- Kitchen Cabinets/Countertops- Bathroom Cabinets- Bathroom Fixtures- Interior Paint- Exterior Paint- Carpet- Hardwood- Tile- Vinyl- OtherOther could consist of anything from install mini-blinds to replacing outlet covers to installing appliances.This generally gives me (and the GC) enough detail that the job can be accurately estimated, and if things change (or surprises are found), we can adjust individual areas accordingly.This also gives me a good idea how much each of his subs will be making, allowing me to figure out what his profit margins will be -- giving me some negotiating help if needed.If your contractors have an issue with filling this out, try telling them, "My lender is requiring me to break it down this way in order to approve the loan."

The only problem that I have with using my cash on cash return in year one is as follows: What if in Year 1 I have a large amount of Capital Expenditures that occur (small amount of rehab, paint, floors,fence) ?

Any tips, laws, pitfalls that you have come across?

Eh slap a coat of paint and no one will tell the difference :mrgreen:

Maybe you could talk to them and tell them how much you admire what they are doing, ask for tips, be interested in their property available and kind of 'pick their brain' as to how they acquired it, etc.GOOD LUCK!