Answer to Questions on Rehabs

Thank you again for all your e-mails. Yes our City is similar to most. We have good areas and poor areas. We have found though that a few wards right now are best and showing many sales. What most investors are doing is getting a cheaper property that needs work. Putting the money in to the repairs and either re-selling them with out a realtor or just having them re-appriaised and usuing that extra money to purchase another property or some times two. A good note to know is that units that have 3 bedroom or more rent for more and fast. The demand for more bedrooms is very large here. Also what I mention to investors is not to neglect the single family homes. They rent just as eaisly and stay rented longer. You may not be able to borrow as much against them but if you look there are Gems here. Also you can find deals that are out of the City to. Some areas that are in high demand now are Clarkson, Hilton, Hamlin, Brockport (near Suny Collage) and more. I would suggest you go to homesteadnet.net or contact a realtor to get a list of properties for sale (not that you didnt think of that already) but were not realtors. Hud homes and foreclosures are a very cheap way to purchase a new property too, but again, you buy those "as is" and you need some one you trust to go through those homes and give you a good estimated cost of repairs. Most of you on here are collectivly very smart as I have read. I do know the areas of the City and do mostly contracting and management. If your about numbers that's fine, do your research here and you will see the potential of $$ you can make montly. Note, Also check out your management company well. There are so many that have made our City look bad. Were not all like that. Come and visit us and see our City. It's getting warmer at last so your visit will be a good one. Thank you again for your e-mails. I will try my best to get back to every one with your other questions. Hope your weekend was a good one. Carl