Third, The condition of the subject is a major factor. As an investor, a major concern is "Do I have the knowledge, skill, time, effort, and resources to improve the property myself or do I want to contract the work out and have others do the work for me" The cost will be higher if you contract the work out. Please see the article in reference to the HUD 203K Program. Finding a lender which lends on the HUD 203K Program is an assett when it comes to buying properties which need improvements. Home improvement specialist are listed in my home improvement section on the main page.
