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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Valuepro who wrote (263904)	7/26/2010 12:38:40 AM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 306849

I think pros can make some of the properties "work" even if damaged, but many of those are in the tear-down category. Otherwise you need a decent inspection (I think even Vosilia would agree with that). I've actually tried to view a few of these, it can be done with a fair amount of difficulty and usually only for a brief walk through. Suppose a house is utterly encased in mold. It's hard to make that work either as a flip or as a rental, because of potential liability. If you're talking about tear-downs thats a different matter....but not too many of the auction properties are down in that price range. A BIG professional buyer that has a lot of rehabbing going on (with subsequently lower prices to do the work) may be able to make selected ones work, but I think they prefer to know what they're getting before bidding. It's still caveat emptor out there as far as I'm concerned. I think the better deals are with non-auction foreclosure and short sales, but that's just my opinion (and we all know what opinion is worth..<G>)