Whats Your Average Holding Period?
I was just curious how long others are having to hold rehab properties.
95% of the foreclosures in my area are in the "bad" part of town. Bad as in west side, high crime, low income, etc. Typically I buy for 20k, rehab for 8k and sell for 50k. I average 13k per property. My big problem is that I end up holding the property for 9-12 months. I have no problem finding people that want to but it, but finding someone with decent enough credit to get a loan is like finding a needle in a haystack. I always pay closing costs and downpayment (Ameridream, etc) as well
Just curious what others do
Thanks
Consider selling on land contract. After they are in the property and you are no longer worried about holding costs you can work to get them qualified.
Just a thought