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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Foreclosure Question For The Masses... Posted by Mike on March 30, 2002 at 2:19 PM For the record, I am a total novice on foreclosures. Fortunately, I do have a mentor that has seemed willing to help me learn the trade. My question is this: A guy told me that if I bought a foreclosure in a 'bad section of town', for say, $3,000, and say I invested $2,000 in repairs, that I would, in essence, only make as much money on the house according to the property values AROUND it. Is this true? So, if the going rate for a house in that neighborhood was $15,000, would $10,000 be about as much as I can expect to make back on the house, EVEN if I spent MORE than $15,000 on it as a foreclosure? Follow Ups: Guidelines to getting your maximum price. Ward-CA- 9:39 AM, 03/31/02 (0) Guidelines to geting your maximum price. Ward-CA- 1:30 AM, 03/31/02 (0) Re: Neighborhood Influence Sean Wagle 10:09 PM, 03/30/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : For the record, I am a total novice on foreclosures. Fortunately, I do have a mentor that has seemed willing to help me learn the trade. : My question is this: A guy told me that if I bought a foreclosure in a 'bad section of town', for say, $3,000, and say I invested $2,000 in repairs, that I would, in essence, only make as much money on the house according to the property values AROUND it. Is this true? So, if the going rate for a house in that neighborhood was $15,000, would $10,000 be about as much as I can expect to make back on the house, EVEN if I spent MORE than $15,000 on it as a foreclosure? 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

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