Six months went by and I still didn't buy my first rehab project. I'm looking to purchase in the Orlando area in Florida. There are homes for 30-60K I see online and the resale could be 85K on the lower end in some neighborhoods. I know this from the research I've done.

When speaking with a local agent, he insisted that I shouldn't purchase without seeing the property. While this is a very reasonable statement, I don't see why this is a must. I know the property is already in shambles. Seeing it doesn't give me anymore information than I know now. I am not at the phase where I can look at a home and say, it will cost x dollars to fix. So what's the difference if I see it or not. I did my research regarding the neighborhood. I can see the streets using google earth. Am I missing something?!

I have to hire a handy man/ contractor to go see what the fixing cost will be. While I realize this cuts into my cost, this is my first one and I expect to "pay". The style there seems to be tile floors. How much do tile floors cost in a 1000-1200 sq ft. home cost? what else can be bad? Plumbing, roof? I already know a roof can cost between 5-7k. How much can plumbing cost? Wiring/electric? What else can be bad in the home?

More concerns....

I've spoken with a general contractor and during our conversation he mentioned that he only works about 4 hours a day and that was perfectly normal. FOUR HOURS A DAY??! I never heard of such a thing. I expect the rehab to be finished within a month tops. It wouldn't be possible to finish it in a month if you're working only 4 hours a day/weekend off. I haven't dealt with contractors in the past. Is this the general mentality? I am not very understanding of clock puncher mentality. If the work could actually be finished within the time period then I don't care if someone works 2/3 hours a day. It's about getting it done to my specifications and within a specific amount of time. During the fixing up time-I would be present.

What else should I consider? Thanks for reading!

Sylvia

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