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Non-Tech : Investing in Real Estate - Creative Opportunities -- Ignore unavailable to you. Want to Upgrade?

To: Micawber who wrote (1707)	6/14/2013 12:43:10 PM
From: John Vosilla	Read Replies (1) \| Respond to of 2722

Rehab will cost over $50k. This is a wreck in a good neighborhood. Gut jobs redo everything cost a fortune but then you go from the worst house on the block to the best house so it has to give you some satisfaction when done.. Sounds like those price points are better to just flip. Can't get any kind of decent spread down here anymore so sticking with more lower end fix and hold with quick payback. Amazing what nice new 18 inch tile throughout, new baseboards, paint, modern appliances,reface countertops, ceiling fans and some modern hardware does to the look of a tired and dated ranch home... I can't go much over $10k rehab cause the houses are not worth much more than $50-55k range in prime move in condition.. i figure they go back to at least $70- 75k when the remaining shadow inventory gets cleared just to get back to what they were worth before the meteoric rise 2001-06. If Bernanke doesn't put the brakes on soon all bets are off we go parabolic yet again IMHO. Prime locations around Philly near the peak already?