HOW MUCH IS EARNED IN AHOUSE REMODELLING PROCESS
Can someone know how much could I earn if I buy a house for remodel and the sell it
I'd say the range is anywhere from making several million dollars to going bankrupt and living under the bridge.
There's no good way to answer this question. How much are you paying for the house? What kind of work does it need? What do similar fixed up houses in that area sell for? How much work will you do yourself and how much will you pay for? What are the costs of doing business where you are buying the house (permits, taxes, etc)?
Luis,
Most house flippers will shoot to profit $20k-$25k after all expenses for your basic single family home. This can be challenging, so make sure you analyze properties well.
- Jack Faysash
You've given no information to provide an adequate answer.
#3 1031 Exchanges Contributor
- Investor
- Las Vegas, NV
Most remodels return between 40 & 80% of the amount spent. To add value you need to add a bedroom or bathroom or more finished space. You could literally spend $5-$10k on painting a home and add zero. Or $10-$20k on landscaping, either adding or removing grass/rocks, whatever and actually reduce the value if the buyers want what you removed ro don’t want what you added.
You probably need to provide a before picture, to someone in your exact market (location and property type), and then a list of changes and the costs.