Sorry the title is misleading but
Say the market value of a property that requires work is 200k for example
You need to do 50k worth of Reno to get it revalued at 280k for example
However these properties seem to be getting snapped up very quickly at 200k
Say you have found a guy or a way to do this 50k Reno for 40k for whatever reason
Would you pay 210k for this property given that your net profit will be the same but you are essentially overpaying based on your strength in getting a better bargain
Half of me says if you can pick up multiple properties for 210k then since the net profit is the same then why not?
The other half says why pay more then market price?
Say the market value of a property that requires work is 200k for example
You need to do 50k worth of Reno to get it revalued at 280k for example
However these properties seem to be getting snapped up very quickly at 200k
Say you have found a guy or a way to do this 50k Reno for 40k for whatever reason
Would you pay 210k for this property given that your net profit will be the same but you are essentially overpaying based on your strength in getting a better bargain
Half of me says if you can pick up multiple properties for 210k then since the net profit is the same then why not?
The other half says why pay more then market price?