Houses with Foundation Issues and/or Wet Basements
So here in Cleveland, OH there is a many a bank owned home which - in addition to be a complete gut job - also have wet basements and/or cracks in the foundation when looking at the basement walls.
When I look at homes with those sorts of issues, I can't help but wonder who buys them? Are they nearly impossible to wholesale?
A real life example is a home I visited yesterday, which needs a complete gut job - kitchen needs new everything, house needs painted (interior and exterior), floors need done in almost every room. Plus the basement has cracks in the foundation and a pool of water on one wall.
I think I could possibly get this house for $25-35K and its ARV is approximately $90-$100.
Thoughts?