Thread: House flipping
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faust
Senior Member
 
Join Date: Oct 2005
 
2007-11-06, 11:43

Quote:
Originally Posted by Perfecting_Zero View Post
Yeah, I'd say that's a fair and candid analysis, Enki. My gf and I just bought a wonderful house, which was in foreclosure, for under thirty-grand. When we ran the comps, other similar houses were selling for triple that price. We thought about selling the place in a year or so, but we like the house and the neighborhood more and more, so we'll probably stay put for a while. But yeah, it's easy to underestimate the amount of work (and time and money) that can go into a satisfactory renovation.

30 grand? My downpayment was nearly 4 times that. [faints]
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