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Help with Post Katrina Rehab's (1 viewing) (1) Guests
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TOPIC: Help with Post Katrina Rehab's
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Christina ()
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Help with Post Katrina Rehab's 4 Years, 11 Months ago Karma: 0  
Literally there are proably thousands of homes in need of rehab on the MS Gulf Coast. We are new to this program and learning. We know there is great potential here to make money on rehabs here. Paying nearly .30 on the dollar for homes here which in turn could make for a very large profit due to property values have increased here drastically. Problem is no money to invest in the rehabs. Could purchase the property's but no money to fix these homes up. Some homes would be looking at a 100,000 profit or more. Buying what used to be a 300,000 home for 60,000. Look at this listing:
List Price: $85,000
MLS Number: 190769

5007 WOOD ST
Waveland, MS 39576 Property Type: Single Family
Bedrooms: 5
Full Bathrooms: 2
Half Bathrooms: 1
Status: Active
SITS ON 3 LOTS, APPRX. 243 FT. BULKHEADED. DEEP WA|TER CANAL!! PROPERTY LOCATED AT END OF WOOD ST. S|OLD AS IS, WHERE IS, HOW IS. BEAUTIFUL LOTS WITH |LOTS OF WATER FRONTAGE.

This is well below market value. It needs renovations. This would easily sell for much more. Probably with the area around 250,000 or possibly more. So what do I do with no money to rehab these properties. There are so many just like this some with better deals even.
 
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