Updated about 7 years ago on . Most recent reply
HELP with Hoader Home rehab !!!!!!!!!
Hi BPer's
I am new REI in Houston TX and I am currently under contract for my first major rehab project.
Project: SFH: Its a 1400 ft2, non-flooded , single story ,3 bed 2 bath, 1983 built in clear lake TX area zip 77062. It is a hoarder house with 6 ft hole in roof. Seems like this house has been neglected for quite a while. Below are the details for house.
Purchase price : $80K
Major Rehab: $50 k
ARV: 170K-175K
Rent : $1600/month
Rehab: Based on quotes I received from 3-4 contractors: new roof, foundation fix, sheet rock, new flooring, landscaping, new bathroom, kitchen, siding. Its a full rehab work.
Question : Since this is a hoarder home, its not possible to see walls. Is there a possibility of structural damage ( stud rotting) due to rain pouring in through hole in roof? 1 of the contractor brought it up.
Any other damage , which I am missing?
I would like to hear from someone who has worked on hoarder homes and/or big hole in roof.
Thank you in advance for help!
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Lots of dumpsters and dump fees