fix & flip - previously flooded

2 Replies

Investment Info:

Single-family residence fix & flip investment in Houston.

Purchase price: $87,500
Cash invested: $35,000
Sale price: $162,500

fix & flip - previously flooded

with flooded properties that *are mucked out*, the first 6" - 4" of sheetrock and insulation have been torn out. so that needs to be replaced, taped and floated, textured.  baseboards and flooring will normally have already been ripped out.  otherwise, it's just like any other flip.  I like flooded homes.  as to location - they're all over town... but fewer as time goes on and they're taken up, repaired.  what out for repeatedly flooded properties and each area's local regulations.  if you cross the line and spend too much, then you're forced to lift the house - costing you $150,000 - $250,000 (?? never done one)... likely eliminating any profit. 

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