Davenport, IA · Member since 2016 · 5 posts · 0 votes
My name is Dustin,
I currently have been looking for a home to invest in. I currently found this https://www.facebook.com/groups/385363158183052/permalink/1583303001722389/?sale_post_id=1583303001722389
I think it has a lot of potential. It is a full rehab. I have not viewed the property yet, but will tomorrow. Assuming it's a full rehab, what do you guys think it would cost to remodel this house. This will be my first flip. Do you guys think it's worth my time? Also how would some one get financing on a house that is in this shape? I'm new in this game and don't have much money in the game yet. What are your guys thoughts on the overall projects. Any tips i should know?
Property Manager · Virginia Beach, VA · Member since 2016 · 2k+ posts · 2k+ votes
9y
You really need to talk to rehabbers in your market. In my market we would never rehab a tiny 2/1 with the current footprint. This would most likely be town down for new construction, assuming the lot is wide enough. If the lot isn't wide enough, we would "pop the top" and add a second story. We'd spend about $80K to do that. Don't be swayed by the low price. For your first deal, it would be safer to stick with something that needs far less work, even if the profit potential is skinnier.