When is a “deal” not a deal?

http://www.realtor.com/realestateandhomes-detail/196-Woodrow-Ave_South-Elgin_IL_60177_M73883-79789

Here is a little ranch single family home located at 196 Woodrow Ave, South Elgin, IL.  No, I am not the listing agent for it.  It is currently listed for sale at $58,000.  3 bedrooms, 1 bath, needs work.  Is this a deal or not?

Depends on what you consider a deal:

A-Investor who flips fixer uppers-possibly a deal
B-Investor who does wholesale properties -not a deal, as anything listed on the MLS is overpriced
C-Investor who rents and holds-not a deal (too much work to get it up to spec)
D-First time homebuyer who is extremely hands-on and Do It Yourself type- possibly a deal if they have a lot of time, cash, patience and willingness to put in a lot of effort
E-The average client who wants a deal but wants it to have granite counters, 42 inch custom cabinets, wood floors and stainless steel appliances….and did I mention neutral paint and updated bathroom too?

It all depends on the buyer’s needs.  Helping find the right house for the right buyer is something I can help you with because everyone’s situation is different.  Need more information?  Find a Realtor in the Fox Valley area who knows what specifics investors are looking for!  Jennifer@ElginFoxValley.com

 

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