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Thanks for the info. I would rather pay someone than do that part of the rehab. Yuk!

Nightowl

I watch all the Flipping shows and at times they show homes that went into foreclosure. The people who once lived there leave the house a total mess, including leaving furniture, dishes in the sink, rotten food in the fridge ect. Who would you call to have it all cleaned out? Do they have cleaning companies that come in and just do that kind of work? I know I wouldn't want to do that part of the project.

Thanks in advance
Still learning,
Nightowl

I am not clear as to the difference between rehabbing and house and flipping one. Could it be that when you flip it is for quick profit and you would do a 1031 vs rehabbing which you would live in it and hold on to a home at lease 2 yrs for capital gains?

Please help clarify for me.

Thank you very much,
Barbara

I have learned alot from reading the previous post from Christy's
"What are deals and what aren't"
I am new and am trying to catch on to the terms so to better understand all the information given on this site.
Thanks to everyone here who are my teachers.
Barbara 8)

Examples of these terms in real estate transactions would really help.

Would someone explain to a newbie like me :-)
what the terms assign and wholesale mean?

Thank you and I love this site! :wink:

Then I assume an exchange 1031 would be the way to go if we lived there a short time to fix it up before renting and then buy another home to actually live in. Is that correct?
Nightowl

I was thinking of moving into a livable house that needed updating and minor repairs, living there for 2 yrs then renting it out. Since renters don't take as much care of the rented property, how much rehabbing should I do?

Night owl

I have heard that if you buy say a condo or townhouse as soon as the trailer is in the lot, you can make a lot of money when you go to sell it. How does this work and when does your first mortage payment begin?

Thanks,
Nightowl :help:

Wondering how many are motivated and planning on attending the Learning Annex in Chicago (Rosemont) Oct 21st, featuring Trump, Kyiosaki, Tony Robbins?

Nightowl