So instead of going for the mass reach light touch, I try to go for the heavy hit with selective invites to my media pages.

Also the rents are even a ways off from even 1% of purchase price.Did you already have an inspection or perform one yourself as It would seem that a defect free property would have more competition from buyers and with you using financing it is not like you have a slam dunk purchase from the seller's perspective either to like your offer more than others.

They will tell you how hard the surface (coating) is, but since the underlying wood is soft, dragging a piece of heavy furniture without a slider will crush the underlying wood and leave long dents (technically not scratches, I guess, if the surface isn't broken).IMO, your rip out & replace estimate sounds way high, at least for my area.

We haven't to date experienced any competition from foreign investors when purchasing.We do tend to by very run down properties that need whole teams in place to be able to turn them around.Most foreign investors are only interested in turn key.I must say tho that a few fellow Australian investors have tried buying wholesale and doing the work themselves from overseas.I am sure you can imagine it didn't turn out to good for them :(Thanks and have a great day.

Easier to find, maybe, with less competition for them.

I did not get a quote yet.I'd get the name of the agent/company the owner deals with and see what they can quote you at (maybe they have very competitive rates or maybe the owner is full of $h!

And even if you do have to draw on it, the interest rate is going to be at least competitive, if not better, than a 30 mortgage.So no your approach is not crazy.

If you get them out but they have been there forever and worn out that unit you will have very heavy make ready costs in the thousands.

Granted Competition is good for any business but when you have almost the same sign with almost the same theme or saying it deters the potential seller to looking elsewhere.

(but not pay $440k) Just assume your competition can rehab it cheaper, and has lower holding costs than you.