Do you get those calls?
Dear Realtor, or Dear property manager;
I've got this broke down shack that needs a complete remodel, but I don't have the money to do it with. Can you please get it fixed up for me and sell it or rent it out?
After it sells or rents, you can keep what you spent on it and I get the rest!
This is a win-win for both of us and you are just not seeing the great opportunity I am presenting you! You buy the materials, remodel the house and with your skills as a real estate professional or property manager we will both profit from our relationship!
Or, the one I really love.... I just bought a house on the courthouse steps for $1,500 and I need someone to repair it and sell it for me! I haven't seen it yet but I've been told it should sell for about $60-70,000.
I just inherited my relatives home, they lived their for 57 years and it needs some work, if you fix it up and rent it out you can recapture your investment from the rent!
My response, I have the crews, contractors and ability to make any kind of repairs to your real estate investment. I am not a bank and any materials or labor performed will need to be paid for before or at the time of completion. If you cannot afford to make the repairs to the property, I suggest you try to find a lender who will loan you the money to make the repairs.
I even got a call once from a guy who had moved a whole house to a new location, he wanted to know if we could just finish placing it on the foundation and making all the repairs so that we could rent it out! In his mind it was a win-win, after about 6 years of rent we might break even, if we charged no interest!