I Need Help
I am a newbie investor with " little" cash.I found a property in St Louis,MO that needs a lot of work.It is a small house with a lot of potential.( well I think so) The asking price is $4,900.Comps in the area are between $31,414-$56,500.
My question is do I purchase this property and sell it to another investor or do I keep it and rehab it? I am currently living in Las Vegas but I have family in St Louis. :cry: :cry: :idea: :idea:
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Jon Holdman
#3 Real Estate Deal Analysis & Advice Contributor
#3 Real Estate Deal Analysis & Advice Contributor
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Jon Holdman#3 Real Estate Deal Analysis & Advice Contributor
#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
How much work does it need?
How much is it worth? $31-56 is way too large of a range to be meaningful.
How are you going to manage a rebab in STL from Vegas?
How will you finance this if you have little cash?