All Forum Posts by: Account Closed

John,

To answer your questions:

1-In my opinion, it's not a bad idea renovating with no experience. The beauty of this is that you're learning at your own pace and will be the wiser for it, especially when others will be seeking your advice on this topic in future conversations. In addition to this, you'll be saving money doing it yourself. However, know when you're over your head when it comes to certain repairs and call in a professional when needed.

2-Each community is different with its own submarket, any kind of generalization wouldn't do you justice. Definitely speak with an agent who is willing to work with you and willing to do some research in these areas of interest. Ideally an agent who's familiar with working with investors and renovations and willing to crunch numbers with you.

Wish you luck

I understand. Thanks.

Hi all, I'm hoping some one here can provide some guidance.  I've inherited my father's house many years ago but have not lived in it or rented it out. Since acquiring it it has needed work and is in disrepair. I don't have the money or the credit to renovate it or to pay the back taxes owed. I would like to keep it and finally use it as a supplemental source of income which doesn't seem possible now. Aside from cutting my losses and selling the property, what are my other options? Ideally, if I had the money, I would renovate the house and rent it.

Ali