Found some Homes..Now what should i do?? Help..
Im trying to get my wholesaler business off the ground and was still in the process of learning everything. I have been doin my research and know the basics of everything, but just needed to tighten up on a few things like getting my contracts i got offline looked over by a RE attorney here in my state, to make sure is legal and learning how to evaluate properties to make it benefit me and the end buyer. But as a was looking online i found a home in my area were someone is selling a 2BR-1BATH HOME for $1100. Now it does say that it has fire damage, its states that it has low taxes. And i believe its owned by a property investor company and they look pretty big. Is this something i should go after to put on contract?? Or should i outright buy it? Have they $1100 to actually buy it..even though i did pick this industry of real estate because of the no money or credit needed aspect. What would you guys do? Houses in the area are valued at $70k..does the fire damage make it not worth it? Oh, and the area the home is in is fairly decent..its in the inner-city..i havent actually went by the property, and i dont wanna label it as a war zone..cause here in st.louis..some parts of the city will be i quiet neighborhood, and 10 blocks over would be a war zone..help!!
They also have another property for $2550
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The more I think about it the more it sounds like it's going to be a tear-down. $1100 in an area of houses at $70k?