First deal.....Foreclosed property...Need some input for a house we won a bid on. It is a foreclosure bid @ 34,000 and the house fixed up, we are told is worth 60 -80,000. There is plenty of work to be done. A new Electrical Entrance is required. A new roof, and siding. There is outside work to be done as well. Inside the hardwood floor buckled in one corner of the living room from water damage. Basement was t1-11 but because of the flooding upstairs got wet and produced mold in the basement. All the t1-11 will need removed and the mold treated. Also harboring carpenter ants. Needs new furnace and possibly hot water heater. It is a two bedroom in a great neighborhood. The structure is sound. Is this a good investment considering all the work that needs to be done?
Posted on: Sat, 09/19/2009 - 23:40