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it helps…to know what your looking at, or for

5 Responses

1. redvelvetflames4ever Says:
   January 8th, 2010 at 9:24 am

   Not at all. Although it would help if you had some knowledge to determine if it is worth purchasing the property (repair investment) and return (i.e., how much are the homes going for in the area after it is repaired?) A friend of mine and her husband quit there jobs and opened up there own little business purchasing foreclosed homes. They secured your regular joe schmo plumber and contractor. Pay them $100.00 (sometimes less depending on the location of the property) to view and assess.
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2. Homer J. Simpson Says:
   January 8th, 2010 at 9:36 am

   Not if you are willing to pay people to do that kind of work.
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3. SexyTrojan Says:
   January 8th, 2010 at 10:05 am

   A foreclosure is a house or condo that the owner didn’t pay on and they bank took it back.

   A fixer upper is a house that the owner sells below market value due to many repairs that need to be made.

   You would need a good inspector for both and a good contractor for the latter.
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4. buyhawkeye.com Says:
   January 8th, 2010 at 10:49 am

   No, but you need to know what to pay for a job. How else will you know unless you are aware of what materials and labor will cost. Are you already in the contracting business? If not, I would suggest you spend a good deal of time learning how a home is built before you get in over your head. This is a very risky business for those not adequately prepared. The irony is that you hold all the marbles and if you start in this business without isolating the risk factors you only have one person to blame. Learn everything you reasonably can before getting started.

   Good luck.
   References :
   Real Estate Investor

5. DennistheMenace Says:
   January 8th, 2010 at 11:26 am

   it helps…to know what your looking at, or for
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