Clock Street Rehab
July 8th, 2009
Here is the video I took of the Clock Street property yesterday. It’s a 3/1, 900 sq. ft. rehab property. My exit strategy on this property would be to put it under contract and assign to a rehabber. The problem is, there aren’t any investors in town that want any parts of this house. It has been for sale for about 2 years, I’m hoping by now the out-of-town owner wants to dump it. The property needs approximately $20K of work and will have an ARV of approx. $45K. I will only take this if I can get it for $3K and then assign the property for $8K. This property would be ideal for Section 8 renting and could gross approx. $900 monthly in rent, which could cash flow upwards of $500 monthly.
