Got a house.. need some help

[Rich_in_CT]

The land was assesed for 21500

If that's the case I like your idea of going after it for $10k and wholesaling it, at least then if someone wants to tear it down they still aren't in that of shape if they let you keep $5k or so.  Or maybe as a rehab candidate you can get even more.

[charterproperty]

Just my 2 cents...

I wouldn't even try a rehab unless you have a cheap crew to just gut the house and put in all new drywall, windows, and siding right off of the bat.  If you're thinking about opening the yellow pages and hiring a random contractor to do it, forget about it. I will say though that if you have access to cheap, basic, capable laborers and the experience necessary to handle that - it could be a consideration if you could pick it up for under $20K and you think it'd move fairly quickly at $80K.  At those purchase and sell prices, and IF there are no major structural issues (which I really can't tell from the pictures) I'd say I could pocket $20K (minus fees associated with selling) with access to cheap labor.

There are a whole lot of if's in there.

[Rich_in_CT]

Just my 2 cents...

I wouldn't even try a rehab unless you have a cheap crew to just gut the house and put in all new drywall, windows, and siding right off of the bat.  If you're thinking about opening the yellow pages and hiring a random contractor to do it, forget about it. I will say though that if you have access to cheap, basic, capable laborers and the experience necessary to handle that - it could be a consideration if you could pick it up for under $20K and you think it'd move fairly quickly at $80K.  At those purchase and sell prices, and IF there are no major structural issues (which I really can't tell from the pictures) I'd say I could pocket $20K (minus fees associated with selling) with access to cheap labor.

There are a whole lot of if's in there.

He was going to wholesale it, I don't believe he was going to rehab it himself.

[moonstruckprincessa]

I realize I am in the minority here, but I don't think it's that bad. If you look in the background of the pics, the neighborhood is actually very nice and filled with quality homes. An experienced rehabber wouldn't blink an eye as long as they could do the work for a reasonable price and there are no major structural/electric issues. Alot like what charterproperty said.

Have someone knowledgeable meet you up there to get an idea if the house is structurally sound and knows about electricity to see how extensive the damage is.

[charterproperty]

He was going to wholesale it, I don't believe he was going to rehab it himself.

In that case, I don't really think there's a price that I'd try to pick that up for in hopes of trying to wholesale it to someone at a profit other than maybe just over free.

[Helixpoint]

Well. I offered 10. They turned it down. I am going to pass it to another wholesaler and try for a finders fee.