What do you guys think about the following properties?

Question

Please give feedback if possible, as well as estimate rehab fee.

881 Cedar St,Abilene, TX 79601

3033 5th St,Port Arthur, TX 77642

56 NW 24th St,Lawton, OK 73505

703 N Main St,Seminole, OK 74868

1147 S 79th East Ave,Tulsa, OK 74112

1609 S Pulaski St,Little Rock, AR 72206

965 SE Fir St,Toledo, OR 97391

514 Suburb St,Rocky Mount, NC 27801

307 East St E,Wilson, NC 27893

206 Warren St W,Wilson, NC 27893

38 Thorp St,Binghamton, NY 13905

104 Fitch Ave,Auburn, NY 13021

83 Summer Ave,Newark, NJ 07104

21 Stecher St,Newark, NJ 07112

1327 W Fayette St # 29,Syracuse, NY 13204

302 W Broadway,Fulton, NY 13069

201 Howell St,Enterprise, AL 36330

2019 E 44th St,Indianapolis, IN 46205

151 E East St,Nogales, AZ 85621

Robert Stack · Answer

thorp street in binghamton is an absolute dump!!

Ritch Bonisa · Answer

Great advice on this - my $.02 is - make sure you know accurate rehab costs before you close.

Curt Davis · Answer

the only way you will achieve the 2% rule is if your buying in a terrible area. That should not be the reason why you buy a property. Those days are gone.

James Wise · Answer

A question like this is far to baud to illicit any type of practical response. The only thing this will do is get turnkey providers from various markets to discuss their market. I would migraine there is not one person who is familiar with all of these markets.

My recommendation is to fly out to a couple of these areas, tour the neighborhoods and meet with turnkey companies and or real estate brokerages. Get a feel for a team you like working with in a neighborhood you feel comfortable in and go from there.

Ben G. · Answer

I think you need to narrow down your list and focus more. That's a huge list to try and make a decision from. Also focus on the reputation and relationship with the seller whose sourcing those properties.

Joel Kadlec · Answer

I can't speak to all of these properties, but the houses in OK look like they will need a good deal of work. I would proceed with caution on the half duplex in Tulsa. You can probably find better deals further North and in a little better condition. The other half of the duplex looks like it could pose a challenge to you as well.

Harvey Levin · Answer

@Kin Lay

Pm me if you like

Carlos Altamirano · Answer

I think I would first pick up '"The Book On Estimating Rehab Costs" by J Scott here at BiggerPocket. That will give more an idea of how to calculate a conserving number.

@Kin Lay

Kin Lay · Answer

@Ritch Bonisa and @Bob Okenwa What do you think about that Indianapolis place?

2019 E 44th St,Indianapolis, IN 46205

@Tom Ott What other market are you referring to? Ohio?

Thanks for the feedback everyone!

Bob Okenwa · Answer

Can't really get an accurate estimate through looking at internet pictures as those photos don't tell the whole story all of the time. The Nogales AZ one is something I'd avoid. Lots of people crossing the border legally and illegally and tons of drug traffic down there as that house is about a football field away from the international border. As for the 2% rule, that is more a rule of thumb than anything else and there are tons of places where you'll never get that to work.

What do you guys think about the following properties?

What do you guys think about the following properties?

Most Popular Reply

14 Replies