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How low does it have to be to be profitable ?
Date: 11/30/2009 / Category: none
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Current Grade B+
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Hi everyone, I'm currently looking at an REO in my local investing area, approximately 21 miles south of Chicago. I live in Chicago Heights, IL a city of 37,000 people with the usual mix of really good neighborhoods and some down right War zones. The subject property is a 3 bedromm, 1 1/2 bath, w/full basement & 2 car attached garage located in a very desirable, central area of the city with pre-market sump value of $150k-165k. The house is listed at $32,175 and will need repairs of $33,700 to bring house resellable condition. The summary of repairs is as... continue reading >>
