Good Outside VS Bad Inside, which to choose?

Bad inside I would venture to guess would perhaps cost more to repair or bring up to a decent level. It really depends though. I think I would be going with nice inside and easier to bring the outside up to have great curb appeal. You will have to decide on a case by case basis though what actually needs done and how much it will cost!

It is great to fill out your profile so others can get to know and network with you!

Thanks Femailceo I guess that is a pretty controversial question. I guess a simpler to ask the question is to ask what are the most expensive repairs to do on a home? My guesses would be the roof, foundation, and any pipe/plumbing repairs. In most cases would it cost more to renovate the interior or exterior?

It would most likely cost more to repair roof pipe and foundation. If you have pipes and foundation issues then you will probably have to deal with mold issues and getting rid of mold can be expensive depending on what kind it is.

it won't really matter, except weather conditions

Run the numbers

I've flipped tons of houses and I really don't care which is better. It all boils down to the numbers. If you can make money in the end, that's all that matters.
Good luck,
Jim

Are you thinking of investing in Detroit? What part of MI do you want to buy houses in?

It is all going to depend on what needs to be done. You will have to estimate each home and not choose inside over outside as a criteria really.

I like them when they are ugly inside and out!! Much better chance of not having to compete with owner/occupant buyers and also having a motivated seller.
Like several people said above, It always depends on the numbers.

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

Hi Run the numbers then you will know for sure!!!!!! Jim

fortunate for me i've been living in detroit my whole life!! I know the exact current conditions and will have a better chance of predicting the bottom and up cycles than any of the outsiders. But to answer your question Docarmo as much as i love my city its not that good a place to invest. High crime rates, burglaries, and worsesome tenants scare people with sufficient income away from detroit. On the bright side, surrounding cities around detroit are where all of the jobs are and where people are migrating to. You can lterally walk across 8mile (a borderline street between detroit and other cities) and see home prices DOUBLE. i honestly think it'l be another 4-5 years before deroit itself goes up. Alot of my buddies are buying detroit homes and renovating them only to get none or maybe a few temporary tenants who pay inconsistent rent, or 4-5 years worth of property taxes until detroit homes increase in value. thats how I look at it, but as Dean said, if you adopt the proper strategy you can succeed in any cycle.-

Thomas,

if you don't know how to estimate the costs of repairs, get a contractor on your team that can give you a quick estimate for repairs on the properties that you're considering putting in an offer... then find out how much you can sell the properties for (ARV, After Repair Value), get some recent comps from your agent, and you will know which properties will give you the largest profits.

Wishing you success,

It is amazing how you can do a little yard care and trim some shrubs and prune some trees and you can make the curb a peel of a home look fabulous. Don't get caught up in what would be the best part of the home to work on, just price it out and determine, what would give you the best return on your money.
A little paint and some pruned shrubs and a mowed lawn can make a world of a difference.
An up dated inside can give you some amazing return on your money, but it will cost you more, yet it will bring you more in the long run.
A good handyman or contractor can help you to determine the cost of all the repairs, inside and out.

Happy Rehabbing!!!