The right contractor makes all the difference.If the property needs corrected health and safety items such as replaced gutters or repaired dry wrought it’s because a trained construction expert or appraiser knows it’s necessary to protect the buyer’s and lender’s interest.It’s no more difficult for the borrower to qualify for a 203k loan either, it’s an FHA loan.Any Realtor who says you can’t use a 203k to buy a short sale is wrong.Like most Realtors, they don’t understand the loan so they stay away from it and tell their clients the same.This is a shame since there are 203k classes out there for Realtors to learn how it works, I teach one.

Thank you Bill so much for your Info I just started in Real EstateI have a buyer line up for my property the last thing i want to do is to scare my buyer away if he finds out that he is buying a property under somebody else entity.

you're gonna have to get a permit & deal with inspectors. i'm not trying to scare you or say it's gonna be a lot of $, however, you really have nothing on here for the rehab &, if this was a short sale, the seller was probably tight for cash & let maintenace/capital improvements go to the way side.how much are you putting down?

Health bills are not getting any cheaper with 2 kids.

YES to having exit and more exit plansYES getting the permits and professional ppl to work on your projectYES to figuring out ways to make your unit sell (created parking and added laundry)LEARNT to be a landlord very quickly.IT WAS HELL but I did it and it didn't scare me off.7.

I graduated college last May and I'm a bit scared with messing with so much money.

(I posted this in the foreclosure section, wrong place even though a foreclosure)I'd like to start by saying how impressed I am with biggerpockets, just the truth there, it's a great site and laid out well.I know of a commercial property that is approaching foreclosure, the bank has possession, the tenants are scared, it's 95% occupied.What would a good list of things-to-do from the start be?

I'm also selling off 1 rental property (closing tomorrow).Other than working with contractors, I have been doing all of this on my own and while 4 properties in one year doesn't sound like much, for someone holding a full time job, plus managing 4 other rental units and a note (and doing all the bookkeeping for everything), it's proven too much for me at one time.So, I've decided for my mental health I need to "take a break" and have some weekends off.

It actually leads to increased crime rates and lower overall (physical/mental) health of a population too when looking deeper into this mess.

I did a search but could not find a story like that so I don't know whether it actually happened or not, but it sure scared the buyer.I proceeded to call one of the best licensed electrical contractors to inspect all the panels.