Demolish or remodel?

4 Replies

Hi BP,

Working on my second deal and this one is a bit of a doozy. The seller has 2 properties he wants sold. However, the house looks horrific on the inside. I am still a newbie, so I don't want to count this property out, if it's worth saving. But also don't want to waste mine or the seller's time, if its truly not worth the remodel for me to wholesale. Any suggestions or advice? Thanks in advance!

Some houses need tore down and the money's not there to save them.  I think most houses are 'savable' but it's all about the numbers.  Can you share some numbers?

Unless there's significant fire/mold damage, I'd imagine most houses are renovate-able.  Even if there's significant gutting required, at least some of the foundation/framing should be salvageable. 

Of course, it's hard to tell for sure without actually seeing it!  

Every property taken down to the studs is like a fresh start!  Until you strip it and see what you have, it's hard to count anything out unless there are already issues like severe mold, fire damage, or termites holding hands to hold the place up :)  Even foundation issues can be resolved to some degree.  So, the first step is to figure out WHY it is such a dump to you in the first place.  You may find that once you empty it out, you'll realize that it was just all the junk and clutter that made you feel like it was a loser.