Rehabbing/House Flipping in 2022

[Jason F.]

I'm thinking about making flipping a property one of my goals this year but I would like to hear from those of you who currently rehab about your experience from the past two years and how you're pivoting.

With an increase in material cost, shortage of contractors, and the rising cost of properties how have these things affected your business?  Have you made changes to your business model or have you moved away from rehabbing together?

What advice would you give to someone who is looking to rehab for the first time in the current environment to be successful?

Thanks for your time and thoughts.

[Maria Afsharian]

I agree 100 percent with Nate - in NJ. As an agent, you wouldn't believe how many good houses sit because they need paint, minor upgrades, and STAGING. The industry has new lower cost solutions to total rehab e.g. glazing old tile and tubs white - Do a pre inspection though - around 1200 - to check for plumbing, electric (amp and knob and tube), flooding, sewer lines, mold, asbestos and underground oil tanks - then get creative. I cant tell you how many fully remodeled homes also go unpurchased because the colors of tiles and flooring are mismatched or unappealing throughout. Definitely work with a realtor to understand what people are looking for. Open concept is a must!