I'm wanting to determine whether to Rehab vs Build Anew

2 Replies

Hello everyone, I'm a newbie to real estate investing. I currently have a home sitting on a little over quarter acre of land. A leaking roof has caused considerable water damage to the floors and walls inside of the house. (Side Note: There's also an underground basement inside the house)

My Question: Would it be cost effective to rehab the current structure ( gutting the inside and fixing up the outside ) or to tear down the house and build a tiny home of one form of another in it's place?

Hi Courtney, I wish I knew the answer to your question. 

But I think you will get better responses in a more appropriate forum. 

You posted your question in the Not So Successful Stories forum, which are about deals that already went bad and the lessons learned. Not really to ask a question on what you should do on your current situation. I would recommend General Real Estate forum, or even one of the forums for your local area here at Bigger Pockets.

Good luck

Mark

I appreciate your assistance Mark. I'm very new here and thought maybe someone could share some not to do things regarding evaluating this matter. I have a clearer understanding of the forum now. 

Thanks again for your guidance!

Courtney

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you