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How to obtain a mortgae loan for a fixer upper
How to Get a Mortgage Loan for a Fixer Upper
Here's a clever real estate dictum for you: Don't buy the best house in a bad neighborhood; buy the worst house in a good neighborhood.
There are several reasons for this rule, but the main one has to do with property values, which are determined in large part by the surrounding homes. If you buy the best home in a bad neighborhood, your home sets the highest price consideration in the area.
If you purchase a lower-priced home in a good neighborhood, you'll pay less for it, and with improvements, you can greatly increase its value. The higher-priced homes surrounding it will also buoy its value.
This doesn't necessarily mean you need to purchase a fixer. Sometimes a small home in a good neighborhood offers a good value if there is room to add to it. A fixer, however, presents you with the best opportunity to quickly build equity. Click here to read entire article

Click here to get more information from a lender who specilizes in rehab loans
Post courtesy of the Louisiana Homes and Land Group at Keller Williams Red Stick Partners  Louisiana Homes and Land Team Keller Williams ... more

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