Fix and Flip with Solar Panels in Arizona
I was having a conversation with a couple of fix and flip types last evening here in Phoenix, Arizona and they told me what I thought was a brilliant idea:
They have created a partnership with a local solar power installer who they are doing multiple deals with. Basically they are installing solar electrical on their fix and flips during the rehab process, getting a wholesale price on the install, keeping the Arizona Solar Tax Credit for themselves (since they owned the property when it was installed), marking up the house by the retail install price (which they have no problem getting in this seller's market), and then using it as a selling point as the house is now energy efficient.
Seems like a good idea to me. They make something on the install mark-up, the house is more sell-able, and they keep their taxes bills down with the tax credit.
Is anyone else using this approach?