I heard that real estate is very lucrative how do i start rehabilitating vacant houses. What important things must i know to start.
2006-06-17 10:08:01 · 5 answers · asked by BlaqueRose 1 in Business & Finance ➔ Renting & Real Estate
To make a profit buying and fixing vacant houses, the most important thing to know is to buy at wholesale price. You should also know that listed property normally don't sell at wholesale.
2006-06-17 14:22:32 · answer #1 · answered by Superman P 2 · 0⤊ 0⤋
Very complicating and can be costly. First of all, get very familiar with a local area. See what the home turnaround is on that. Taking real estate classes is an efficient way to learn where to start.
2006-06-17 12:32:22 · answer #2 · answered by Skywalking 3 · 0⤊ 0⤋
You must be able to do a lot of the work yourself to keep costs down, you have to know state code for building and renting and you have to be able to have a lot of cash in reserve to buy, fix and eventually sell more than one at a time.
2006-06-17 10:27:30 · answer #3 · answered by smgray99 7 · 0⤊ 0⤋
First you must purchase (or control) the property below market value (known as wholesale). Then you must fix the property and sell it to a retail purchaser. If you have any specific questions, please let me know.
By the way, I don't suggest this be your path if you're new to investing.
Regards...
2006-06-17 11:48:17 · answer #4 · answered by Anonymous · 0⤊ 0⤋
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2006-06-18 13:15:20 · answer #5 · answered by Keller Williams Realtor 2 · 0⤊ 0⤋