A typical policy covering up to $15,000 in property damage and $100,000 in liability coverage costs under $200 per year7.

Aside from cost and finding a good contractor, my major concern is safety of the home while it's vacant and being worked on.

Hi BP community,I'm curious to hear from those who bought and rehabbed a gutted property.

- Is there another way to make this business model work without sending out direct mailers that could cost tens of thousands of dollars each year?

Would love to know more about the market, what to look out for, and any areas to avoid at all costs.

Would need money for rehab too, maybe I should continue to save or put it in a REIT? 

do they actually rehab the properties?

I would like to converse with the owner on cost, process, hassle, lessons learned, etc but only the agent is at the open house.  

Some are forgivable at a rate of 20% per year and after 5 years they dont have to worry...Others take 15 or 20 years before it becomes 100% forgivable.Some are not forgivable at all...With this deal I would be less concerned with equity that exists and more concerned with the amount of that equity can the "Moderate To Low Income" of a Habitat Homeowner support in loan format.I am almost certain that its possible but your going to want to know the terms of the DPA/ Grant so you're aware of the actual cost and you have to see what the DTI looks like to see if it will fit what theyre looking for.

I just love buying and rehabbing properties and have done that for 15 years, it has grown into a stand-alone business and I still debate the question when is enough enough?