Watch essentials of evaluating an offer and how you can compute the optimum purchase price you ought to offer for a property.
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This home was a property I discovered on the MLS back in 2011, at that time there was still a great deal of foreclosure inventory, so you might still find some actually bargains on the MLS.
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This home was noted for $54,900 and rehabbed homes in the area were costing around $125,000, so I believed if I might purchase the home for around $50k, I might most likely net around $20k in profit in the deal.
The home had no major structural concerns or anything like that, but it did need a brand-new roof, brand-new windows & doors, & outside painting and some new landscaping.
In the interior, the residential or commercial property was quite dirty and there were some holes in the walls, but for one of the most part the residential or commercial property was simply needing a cosmetic rehabilitation, so new bathrooms, painting the interiors, setting up new hardwood floor covering in the kitchen, setting up new carpet in the bed rooms and setting up new lights throughout.
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