Updated about 2 years ago on . Most recent reply
What are the best things to address with a $50k budget for a flip?
I am considering doing a flip for a house that is in a $500k ARV neighborhood. Most of the work I've done has been on higher end properties, so I am trying to get some idea of what would be the most impactful and profitable things to do on lower end homes. Obviously a full kitchen remodel doesn't make sense at this budget, but the house needs quite a lot:
- New roof
- New windows
- New bathrooms (currently it's set up as a 3/1, but I think adding a second bathroom would be a big add)
- Flooring is okay, but the tile is dated
- New front door?
- Landscaping?
I bet someone here has built a guide for where to spend money on different classes/brackets of homes. Can someone point me to a data-backed guide like that?
Most Popular Reply
Hi Matt my best advice would be to talk to the real estate agent you will be selling the house with. He or She should have an idea of the comps in the area and would be able to tell you what is the most important renovations you can do on that market.
Hope that helps you.
Eric