Real Estate Investor · Amarillo, TX · Member since 2010 · 21 posts · 3 votes
I'm doing my first flip, 3/2/2 brick that has a flat roof that has to be replaced (there are numerous areas inside with ceiling damage/mold). The wholesaler/flipper I bought it from suggests that I invest in adding a pitched roof as I will see a return on the ARV. This being said, I'm seeing that pitch roof bids that I am getting are 2-3 times more expensive, I just can't see the pitch roofing adding 2-3 times more than what I'm going to pay to out a new flat roof on. I don't want to go with my gut and pay to have a flat roof put on and then, have to pay an extra 2-3 times more to have it changed to pitched roof. Any help would be extremely appreciated.
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
16y
Hi, the best way to tell if it is worth the difference is in the market. Find comps with flat roofs and ones with pitched styles and see if there is a significant difference. Ask an appraiser, you should be able to call one and get that kind of opinion in your market. The question would be...do you subtract from the value of a home with a flat roof?
Ask Realtors what they have found too.
Best way, again, is to see what the market proves.
Depending on the size and considering the other damage, a roof over might not be so bad, if that would be allowed where you are. (Roof over is simply building over the existing roof) And, if that is common in your area.
I did a rood over last year on a low pitched roof making it a much higher shed roof style common in the area and it made all the difference, great curb appeal! Cost about 5,800 and probably raised the price 15K....big difference.