InnoVest Resource Management's Foreclosure Forum

Discussion Board Foreclosure Training Title Holding Trust Speaking Schedule Foreclosure Codes 50 State Foreclosure Basics Foreclosure Glossary 60+ Yrs Interest Rates News & Trends FAQ Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] I don't see the pro's doing any labor.. Posted by Ward-CA- on March 29, 2002 at 6:41 PM In Reply to: Elbow Grease posted by Sean Wagle on March 29, 2002 at 12:00 AM : A common theme of "fix and flip" books is to put "sweat equity" into the property. : Is it realistic to think that a property can be bought at auction, and rehabbed entirely by contractors, -profitably- without the buyer getting his hands dirty? Does that change the goal of "get it at 80% FMV?" =•=•=•=•=•=•=•=•=•=•= Sean, I’ve never had a goal of trying to get a foreclosure for just 20% off retail. And all the pro’s I know aren’t about to actually labor on their foreclosure properties when their time is more valuably spent researching and analyzing current foreclosures. So logic states you’re got to pay no more than 70% - 73% retail for a foreclosure at auction. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : A common theme of "fix and flip" books is to put "sweat equity" into the property. : : Is it realistic to think that a property can be bought at auction, and rehabbed entirely by contractors, -profitably- without the buyer getting his hands dirty? Does that change the goal of "get it at 80% FMV?" : =•=•=•=•=•=•=•=•=•=•= : Sean, I’ve never had a goal of trying to get a foreclosure for just 20% off retail. And all the pro’s I know aren’t about to actually labor on their foreclosure properties when their time is more valuably spent researching and analyzing current foreclosures. So logic states you’re got to pay no more than 70% - 73% retail for a foreclosure at auction. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction.

Copyright © 1997-2002, InnoVest Resource Management

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455