Looking at a Fixer Upper

[Logan Stecher]

Hello all,

I'm looking at a condemned property with the interest to give it a good ol' rehab and flip. Being condemned, it can already be assumed that rehab will be high, but I want an idea of how high. I know BiggerPockets has a rehab calculator, but what are your beginning steps in this? Do you visit the property to learn what needs fixing and then run a calculator? Do you hire an inspector early on and get a report before the calculator? Any advice on the first steps on this matter would be great!

Thanks,

Logan Snake

[Tom Fidrych]

There's no way to estimate until you know the reason it was condemned. I've seen properties that were condemned due to a earth slide and need $500,000 of geo-technical work.