Nice house, Ed.
Brad-- this is an example of what you can do with these classic beauties.
I am all about sweat equity, though, and don't advise my buyers to pick the prettiest (and probalby most expensive) one in the neighborhood. If you want to maximize your investment, get a property that is structurally sound (or one the seller will MAKE structurally sound for you) and do the fixin' youself - and it does not have to be down all at once. Even if you can't swing a hammer (I am about that bad), just acting as your own general contractor and making upgrades yourself will save you thousands & thousands of dollars.
I think the trouble alot of home sellers are in today stems from the fact that they overpaid from the get-go. Buyers are easily seduced by things like solid-surface counter tops, designer paint colors and staging. I try to get Buyers to see the possiblities of buying something less than perfect. THAT is a good investment!
If you want to get real good real estate- call an Accredited Buyer Representative (ABR)- they have been trained in this stuff. - Mon Nov 16 2009, 05:24