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Fixer Uppers in a Recovering Economy
May 3rd, 2011 | 
Author: Making Money Buying Fixer Uppers.
When I first got interested in real estate in the 70's, (yes, I am THAT old !) I started by buying inexpensive homes, fixing them up and reselling them. Here it is 2011 and it seems there is an opportunity to do this again. Prices have dropped more than 50% in the last 36 months. The price of the average home is under $100 per square foot. Some people have abandoned their homes and left them in great disrepair. The banks own these homes and for the most part, can not repair them. So they sell them at a discount. If you are a wise shopper, you can find a great house in a good neighborhood that may need $5,000 to $10,000 to fix the home up enough to make it presentable and salesable at a tidy profit.
If you are interested in investing in these types of properties as an investor, give me a call or email me and I will send you more information.
The time to make money is when there is blood in the streets!
Posted in Las Vegas Commercial
First time homebuyers have to be aggressive. Have your financing in place and be preapproved for the loan amount you are seeking. This way the lender knows you are already approved.
Everything is relative in this market. If the "depressed price" for a home today is say, $82 a square foot from a previous price of $190 psf in 2007 but the property needs $6,000 worth the work and you can pick it up for $52 psf, then you get even more value based on the current market.
These kind of properties are actually in hot demand right now.