Rehabbing & House Flipping

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Carter Melvin
  • Investor
  • Jacksonville, FL
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Hire Inspector or Just experienced walkthrough?

Carter Melvin
  • Investor
  • Jacksonville, FL
Posted Mar 26 2018, 05:15

I am under contract for a house in Huntsville, my first purchase from a wholesaler - ever.  I have a PM that I'm going to hire and he's very experienced in doing flips and managing properties, and when I brought up the topic of inspection he asked about just doing a thorough walkthrough b/c the water/power might not be on.  (I have a week to inspect per the contract.)  The PM would also be using his local contacts for repairs on the property before renting it out.  This is intended to be a mid-term-ish buy and hold; I'm thinking 2-5yrs.  

The margin on this is ok, I'm looking at a potential 12% cash on cash return budgeting for about 10k in repairs, but of course if there is something major, that would get much more slim.  

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