I’ve always just deemed this type of real estate as just too risky, and a game that only big boys. Just wondering, for instance I live in Gary, and a lot of the properties are selling wholesale for 5-10k wholesale. Now if you could find an appraiser, to tell you the market value of the home after improvements. Lets say he told you 55k. Lets say you found a contractor that told you he could do those proposed improvements for 15k. So now you just do the simple math..lets say..20-25k invested plus 10k incidentals(gas, taxes, insurance etc) so potential for a max investment of 35k..say at the least house will sell for 10K under market value..which leaves you with a clean 10k. Is it really as risky as I once thought?
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