Fix Up Or Just Sell As Is?

I got a purchase contract for $81K on a brick ranch in a good neighborhood that I could either put $3-5K into it and sell for $120,000 or sell as is for $110,000 - Might have to sit on it for a month or so to sell it. Any advice

Comments(9)

  • 64Ford11th November, 2004

    Advertise for $120K now, and start work on it. If you get lookers before you are finished, you can give them a "discount" to finish the work themselves.

  • InActive_Account11th November, 2004

    What happened to the other one you were going to buy and sell for $140,000?

  • InActive_Account11th November, 2004

    still working on that one

  • Zohar17th November, 2004

    handsomeprofit, how do you find these properties?
    I'm considering going into REI and trying to find information such as where to look for these properties.

  • InActive_Account17th November, 2004

    You do realize that flipping it for $110k or putting $5k and holding costs into and selling it for $120K is virtual netting the same profit?

  • gobriango17th November, 2004

    writergig,

    what do you have ? where at ?

  • writergig17th November, 2004

    It's in a town outside of Washington DC (I have a lake house there.)

    The town is gentrifying very quickly and this is a FSBO I found through a friend.

    I used to live in Southport, BTW, wife taught at Riverside in Greenwich.

  • mattfish1117th November, 2004

    How much work does it need? It doesn't sound like a good deal in rehabbers terms... They like to get properties at 65% of ARV minus repairs... 65% of $150K is already under 100k - minus repairs and you are under the terms...

    Your best bet is probably to try a lease purchase and then lease purchase it to a handyman...

    Good Luck!
    [addsig]

  • ceinvests18th November, 2004

    writer,
    what town/area? We might be interested.
    ce42day at (yahoo) or pm (Va, DE, Md investors)

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