 So I am going to build a home in Western Michigan and all the bids have come back at $125 dollars a square foo |
| t. We were told that we could definitely build a home for under 115. What would be a good number considering the economy that we are in? We are really surprised that it came in so high. Our home ... |
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 Behind on mortgage payments/House for sale? |
| I'm behind on mortgage payments three months. I have a payment due before Saturday of this week and if I don't pay I'm sure foreclosure proceedings will start. Saturday is the ... |
|
 Whats the best way to choose a Real Estate Agent when Buying a Home? |
| We are looking at buying our first home and having a hard time choosing an agent. No one we know has bought or sold in recent years so there referals don't really help. We've checked ... |
|
 Is it Legal and can a Housing Authority in Pa. evict a tenants pet Dog because she has more than one(1*) Dog ? |
| The lease says she can only have one(1*) Dog in her apartment but she has two(2*).. They are threatening to evict her other Pet Dog but not her, just the Dog... Can this be possible without them ... |
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 Mortgage question - keeping my name off the loan? |
Is is possible to be married and NOT apply with my husband for a home loan?
His credit is much better than mine, but my income is higher. Also, I've bought a house before, so the first ... |
|
 Please help!! How can I stop from getting evicted from my apartment? |
| No sarcastic answers please, as this is a very situation that my family & I are dealing with right now. We just had eviction papers served & are supposed to be thrown out this Monday - just ... |
|
 How was your first apartment? |
| Was it hard, moving out of your parents house? We're you scared? I'll be moving with my boyfriend, so I wont be alone, but I'll have tons of more responsibilities. How was it for you?<... |
|
 In the state of Georgia can a landlord keep my deposit after verbal agreement has been made? |
| I give this landlord a deposit for a house. I changed my mind and I want my deposit back. The landlord refused to give me a refund. He claims that we have a verbal agreement.... |
|
 Where can I find run down homes for sale? |
| My dad wants to purchase a run down home to renovate and sell later. Where can I look at these types of homes?... |
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| Can I make him sell? |
My boyfriend and I bought a house together back in Feb. Its financed in both our names
We broke up a few weeks ago. We both agreed I would move cause I couldnt afford the payments.
He gave ... |
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 Should I tell my landlord if my boyfriend moves into my apartment? Will the rent go up if so? |
| My boyfriend is moving in with my after the first of the year and I can't decide if I should tell my landlord. I live in a large complex so it's likely they would never notice, but he will ... |
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 Can I break a apartment rental lease before I have moved in? |
| I am supposed to move in a week and went on a apartment ratings site and found that there are a lot of problems at the apts I signed a lease at. My fiance and I want to sign a lease somewhere else. D... |
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 How can I get a real estate lockbox off my front door? |
| I bought a condo about 4 months ago, and the previous owner's RE agent left the lock box thing on the door. I asked my agent to contact the other agent about getting it off, but it's still ... |
|
 Do both occupants have to sign a lease for an apartment? |
| I'm having a little problem with a tenant. He's broken about every term in my lease and he's saying that even though HE signed the lease, because his financee didn't sign the ... |
|
 Please help I'm at my wits' end!? |
We own a Victorian Terrace house which we bought for £72,000 in 2005.
We are on a low income, only around £15,000 pa at the moment (were on more when the house was bought)
The ... |
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 How do you find out the homeowner on record of a particular property? |
| I'd like to find out who owns a particular property, how do I do this?... |
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star | How difficult is it to flip a house??? |
My husband and I are considering purchasing fixer-upper homes, and reselling them to make a profit. However, we have no experience in doing so. I was wondering if anybody has any experience in doing this. We live in a community where the housing market is not wonderful. Generally, the housing does appreciate, however not by extreme amounts. I guess you could say it is steady. I am wondering how risky this process is. Thanks |
 |
 
Searchlight Crusade
 |
It is work to fix up a house. What you look like you have in mind is not "flipping," though, but "fixing up." Two entirely separate things. A flipper is a speculator, pure and simple. When the market is going gangbusters, they can do very well. When the market tanks, like now, they lose their shirts.
A "fixer upper", "handyman" or "renovator" buys a property that is not attractive to buyers, and does the work to make it attractive to buyers. They are adding value to the property in the form of "sweat equity" It takes money, and it takes time, and it takes sweat. The advantage is that there are always properties out there where you can buy them, fix them, and make a profit.
Flippers rely upon a rapidly increasing market, and listing agents (usually discounters) who won't work for their clients. Fixers rely upon their ability to make an unattractive property attractive. Completely different in outlook, in their operating methods, and in the properties they are looking for. |
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PatV
|
You have answered your own question by indicating the housing market in your area is not "wonderful". While flipping, may look like fun, experience brings success.
You'll have to pay $500 to have an inspector (not appraiser) look at a house and note everything that needs fixing. The inspection should take hours. You're hiring him so he doesn't have to provide copies to anyone but you.
Whatever you decide, research the market you live in before spending any money. You won't get much in tax breaks if this is an investment for you. |
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SUSIE
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i think this is a great idea. i am eventually going to get in the same business. if you cant do the rennovations on your own you can hire some local contractors. what state are you in? besides if you plan on making this a business you can find contractors who will work good deals with you once you bring them business regualrly. keep in mind it will be worth it in the long run. profit profit profit...... |
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jimswainbbmc
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Right now most of the US is in a 'buyer's market', meaning that cost of property is down from the average nationally. So you could probably get fixer-uppers for a lot less than normal. The questions you need to ask yourself are:
1. Can we afford to keep the property if we can't sell it right away?
2. Can we afford to make the improvements of any property we are interested in and still make a good profit?
3. Is our credit good enough to get a favorable mortgage rate?
Also, you might want to consider buying them as rental properties, or to lease with an option to buy. |
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hirebookkeeper
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Pat V and Searchlight are correct |
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?
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Very!! You have to be a carpenter, electrician, and plumber all in one unless you hire out and hiring out can cost ya. |
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Biker
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It all depends on the local economy and area.
If it is a high crime area then chances are it will be hard to sell.
If the housing market in your area is flooded then it will be also.
Good Luck. |
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T-girl
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If your husband isn't a handyman and you don't get major discounts at ALL the hardware stores then its very $$$. You need to get it appraised BEFORE buying the house and an inspector to see if the codes are all up to date. |
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Japan_is_home
 |
you need a big spatchula |
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