Quote:
Originally posted by SoCal911SC
The guy you bought from sounds experienced.
Why didn't he put the 3 weeks of work into the house and make the additional $75K profit himself?
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Because he pays contractors to do the work. I would imagine he will spend 15K in a remodel paying contractors. Plus he was going to put the cheapest crap he could find into the house.
By doing the work ourselves we can afford to put in a little nicer stuff. Plus we plan on adding as much curb appeal as possible. Landscaping is your best friend. Its cheap and adds lots of false value. This guy does not bother with that. As long as the grass is cut he is happy.
The guy I bought from is either:
A: Full of crap. He was very quick to show us the keys on his keychain, you know the Mercedes, BMW, Bentley, and H2 keys. He was more concerned about his image than his value.
B - He is really what he claims and just made 30K in a matter of days. Why bother fixing it up, listing it, and waiting for another buyer to come along. He made a smart move I would have done the same.
If the market is slowing in the rest of the country I fully expect it to get even crazier here. Especially with winter coming and people figuring they may as well come down here and give it a go.
I am trying to stay in the 175-225 selling rang efor houses. As the new homes are creeping up to 300K I think the cheaper homes are going to be a hot buy for younger couples trying to get into their first house. Then again I am no RE expert just going with my gut instinct.