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Updated about 5 years ago on . Most recent reply

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Alice Huang
  • Investor
  • Montreal, Canada
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Advice needed - what's your experience on rehab costs like this

Alice Huang
  • Investor
  • Montreal, Canada
Posted

Hello everyone, 

We have our eye on this project. 3/1/1040. 

It needs a lot of work, in San Antonio, Tx.  What do you think rehab will go for?

https://drive.google.com/drive...
Looking for some insight...Is this too much to take on for some rehab newbies?

Cheers,

Alice

Most Popular Reply

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Joseph Cacciapaglia
  • Real Estate Agent
  • San Antonio, TX
1,734
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Joseph Cacciapaglia
  • Real Estate Agent
  • San Antonio, TX
Replied

I work with a lot of new out of state investors that buy here in San Antonio, and I would strongly discourage any of my clients from getting into this type of project, unless they have significant construction experience. Not only is it a big project, but it's also surrounded by dilapidated properties. There is a lot of revitalization going on in that general area, but this particular neighborhood hasn't seen enough of it yet for me to want to pour a lot of time and money into it. Even if you're able to rehab the property within a reasonable budget, this isn't an area that's renting terribly well (if this is a BRRRR). Have you spoken to a local property manager yet? If it's a pure flip, you might be able to make it work if the price is right.

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