Evaluate This Rehab in Ohio

3 Replies

While out driving today I found a 1083sf 3 bed 1 bath home for sale $8,900 or best offer.  Home has for the most part been gutted to the studs.  Typical homes of this size in good condition sell between 50-60k.  I assuming the I do all the work do you all think this may be a decent deal?  Structurally the house looks sound will need all new insulation, electric, plumbing, and probably plumbing.  

How much will it cost you? How many hours will it take you?  How much is your time worth?  If you can answer those questions, we can tell you if it's a good deal or not...

I think you want us to give you what we think the repair estimate would be? I imagine it will be more than the $40-50,000 difference between the ARV and the purchase price. I would pass on that deal.