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".
Ibrahim Hughes, STEP Buys Houses LLC | http://www.StepBuysHouses.org
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