Creative ideas to cut back on renovation budget
Hello!
My husband and I just closed on our first property to flip and we are beyond excited! We're in a very competitive CT market and I am sure paid a bit too much but we are thrilled to get started and learn from every mistake on this one. Would love to hear any creative ideas in cutting back your renovation budget when numbers were tight on a deal. This will be a full cosmetic rehab along with roof, siding, and HVAC (SFR, ARV approx $240); Thank you SO much for any comments we are so appreciative to be part of such a knowledgeable group!
Best, Cameron
Most Popular Reply
First thing first you shouldn't be overpaying and trying to force a deal that has tight numbers to begin with.
Hot markets don't mean you overpay to beat competition they mean you get more creative in sourcing deals.
What did you pay for the house? Rehab Costs? Did you pay cash or finance?
Tell us about the deal first so we can see just how tight you really are on this flip.