Assuming you are not using conventional finance, look for properties that are REO's that have the a partial remodel started i.e. the kitchen or bathrooms are gutted, etc - these can not be sold to a "conventional" buyer and are often too advanced for a casual investor - who just wants to do cosmetic rehab.Your competition will be low and the advantage is that some of the demo is pre-done for you.TTFN,Greg

The buyer has rehabed it beautifully with granite counters, wood flooring, landscaping, paint, and remodeled the bathrooms.

Hi everyone, We are currently living in Queens, NYC but are considering a move out of state (getting tired of the winters, high cost of living, need more space for our growing family).One of the things we are considering is moving to Florida with the intention of also purchasing an investment property to create some positive cash flow for our income.I was doing some research online and have found that many people recommend Lake Mary as an area that has nice neighborhoods, decently priced homes as well as investment opportunities.I found a few listings for 1 bedroom/1 bathroom condos in Lake Mary and I was crunching some numbers to see if investing in one of them would make sense.Here are the stats for one of the properties:$30K Listing Price for 1 Bedroom - 1 Bathroom CondoRegency Park at Lake MaryDown Payment: 33% ~ $10,000Mortgage: 30 year, $20,000 at 5% (estimated interest rate, correct me if I am wrong)Income:Average rents: $600-700/month (let's assume $600 for this example)Expenses:HOA fees: $150-175/month (let's assume $175 for this example)Taxes: ~$500/year, $42/month (estimate, correct me if I am wrong)Insurance: ~$500/year, $42/month (estimate, correct me if I am wrong)Vacancy: 10% of gross annual ~ $720/year (estimate, correct me if I am wrong), $60/monthMortgage Payment: $107.36/monthManagement: 10% of gross rental income, $60/monthTotal Expenses: $487/monthTotal Positive Cash Flow: $113/month Am I missing something from this calculation?

it needs to be re-painted, and the bathroom needs tile.

A property I am looking at is an 8 unit in CA, asking for $400K, rent roll of $4800 AND BUILT IN 1910.Building Amenities and Improvements include a New Concrete Driveway, New Stucco and Exterior Paint, New Main Electrical Panel and New Roof on Rear Building and New Mailboxes.All units have New Cabinets, New Counter Tops, New Windows, New Tiled Kitchen and Bathroom Floors, New Pergo/Laminate Bedroom Floors,New Electrical Wiring including New Sub Panels w/ Breakers and NewPlumbing.

My house needs some repairs (i am renovating) but is mostly already updated, and has several working bathrooms and all the items needed for a refinance.

I have 2 days to supply EM.3/2/2 1580 sqft built in 1968list: 54.9kaccepted offer: 39.5k + seller 1k closing costs (homepath financing)repairs est: 25k (new roof, kitchen, and one new bathroom.

I'd be interested, I don't have anything to advertise other than my collection used Rockstar Sugar Free Energy drinks that I've signed and stacked up in the hallway bathroom's shower.

Last week it was a roof, this week has already started flood in a bathroom.

I'd at the very least want to replace all the drain traps... after 50 years, the cast-iron likes to develop leaks.You didn't say anything about bathrooms or kitchen rebuilds, but in a house that old you're probably going to find rotted subfloor under the bathrooms... maybe even rotted joists.