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Are fixers a good idea in bad areas?
It depends. Distressed properties or fixer-uppers can be found anywhere, even in wealthier neighborhoods. Such properties are poorly maintained and have a lower market value than other houses in the neighborhood.
Many experts recommend that before you make such an investment, first find the least desirable house in the best neighborhood. Then do the math to see if what it would cost to bring up the value of that property to its full potential market value is within your budget. If you are a novice buyer, it may be wiser to look for properties that only need cosmetic fixes rather than run-down houses that need major structural repairs.
Tips and Questions
Are there programs for fixer-uppers?
Where are fixer-uppers found?
What kind of return is there on remodeling jobs?
Are there gov't programs for rehab?
How do building codes work?
What are some resources for info on home improvements?
Are there any special tax breaks for historic rehab?
What are some guidelines to follow when trying to find a contractor?
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Call or Email Carlos
Carlos M. Aguilar
Axia Real Estate Group, Inc.
1450 Frazee Rd. Suite 301
San Diego, CA 92108
(888) 317-1496
carlos [at] teamaguilar.com
