Neighborhood, Neighborhood, Neighborhood.........And then 1. Does it have potential 2. Does it have a value add component 3. Are most issues cosmetic vs structural 4.No more than 75 percent of ARV
Neighborhood, Neighborhood, Neighborhood.........And then 1. Does it have potential 2. Does it have a value add component 3. Are most issues cosmetic vs structural 4.No more than 75 percent of ARV
Newer than 1950. Our market has tons of homes in the 1910 to 1925 age range. For me, these have too many high-cost unknowns -- rewire all the knob and tube? deal with plaster repairs? re-do outdated HVAC? .. the list goes on.
Check your biggest pool of buyers. Make sure your ARV lands in the biggest pool of buyers so you have the highest chance of exiting your project, efficiently and effectively. Don't buy a property and when it's done 90% of the people in the area can't afford it.