Just thinking outside of the box and getting my creative real estate juices going.
Is there opportunities with nicer houses I.e. Doesn't need a complete rehab, kitchen and baths look great, maybe even move in ready? If so what profitable strategies can be put in play?
The problem is your describing a house that 'regular' buyers would buy, so its hard, depending on your market, to buy and have any equity left.
Ideally you want to buy at a discount, which normally means your buying a house that needs some work.
If you buy at fair value, have to sell for some reason fairly soon, you will be killed with selling expenses with no equity,
@Jason Fraser , you approach a "nice" house the same way you would a beat up one: work the numbers. Sure the owner of a nice house MIGHT be less motivated to sell since a dilapidated house is a motivating factor for someone to sell a property cheap. But there are other motivating factors! Medical issues, tax issues, divorce, dead beat family members living in a non-owner occupied house and not paying rent....the list goes on and on. So you look to use the strange strategies with nice houses that you use with beat up houses. And since the place is nice (a reputable contractor or experienced investor should help you confirm this), you might take less of a discount. But you still don't look to pay retail just because the house is "nice".
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing