searching

I have been searching the MLS for properties with the intent of getting into either a fix and flip or a buy and hold and rent property. I have a pretty good idea of the locations that I feel I need to look in based on price and resale. Many of the properties that are listed as Foreclosures or REOs are in fairly poor condition. In most cases this would not be a problem as I intend on fixing most everything up anyway. I figure as long as mold has not set in and there were no major structural problems, than as long as it can be purchased at a good price, I can afford to fix it up.

I looked at a few places in several different neighborhoods in the Jacksonville area. Some are concrete block construction others are brick or wood. Most are on slabs but some are off grade. Each on has its advantages and disadvantages. With Florida being so humid, concrete block structures do not have the same climate problems or WDO problems a wood structure would have.

One investor I talked to had a page or two on his clip board and as he roamed the house he would check off pre-priced items. So by the end of his walk through he had a pretty good idea of what the project would cost. I have since adopted this policy.