Property Investments that You Should Run Away From
Keep It Simple
There are Property Investments that You Should Run Away From!
The properties you should run away from and absolutely never buy are the ones that need a ton of work—structural rehabs. These type of properties with Structural works can be a pandora box of time and money. Yes they might seem like a true BMV deal, however caveat empor or however that word is spelled. I am better in math than spelling.
Structural issues can be recipe for disaster—particularly for all of you newbies out there because you can’t control the outcome. Actually even for me as I will not do them. If I suspect movement with my builders, either I get a survey or I walk away. Time is money in property.
Buy properties that need a cosmetic rehab, spend the least amount of money possible, renovate as quickly as you can. Sell it for whatever you can, cash out, and do the next deal.
Or simply build a low geared portfolio with social tenants with social buy to lets or social HMOS.
Regardless of economy, there is need and Govt. council or charity payments. Seen too many landlords destroyed by non paying tenants now that can not be evicted.