Updated about 3 years ago on . Most recent reply
Mentor and 1st purchase
My business partner and I are just getting started, we are looking for some feedback suggestions from investors that have already gone through these experiences;
1. Anyone interested in helping us/Mentoring through our first purchase would be greatly appreciated.- I am sure we can work something out.
2. We found a house that we believe has potential for profit- It does need some work i.e.- (Potential new roof, the floors in the St. Petersburg, FL seem to have many issues with the floors). This particular house may need new frame subfloor on half of the house.
Not familiar at all with having to re-structure the frame of the floors- Is this something that is not worth investing in with homes that have these issues? Many homes that we have visited seem to have this common issue?
It is an older home however the margin seems to be between $ 50 and $75 k after repairs?
The house is right at 1,400 square feet- Aside from the floors and the roof, the house looks fine.
Hope to hear some feedback and I have been told there are a lot of good people and information on this site.
Your help and feedback is appreciated.