Investor 路 Atlanta, GA 路 Member since 2016 路 627 posts 路 374 votes
For my questions below, imagine a vacant house of 4 years with roof damage (so expect drywall damage, mold etc)
Wholesalers - If you have a house gutted and down to the studs and bones, are your investors more hesitant or less hesitant to buy than if the walls were up and debris scattered around?
Investors - Are you more, or less likely to buy the property if all you see are studs and subfloor vs existing dirty carpet, damaged drywall and old furniture etc. Do you immediately think the cost of repairs will be more, or less if all you see are studs?
Do you feel this depends on the experience level of the investors? I don't believe this will make a difference, but I'm in the Atlanta area. (Snag a few people with the Keyword 馃槈)
Wholesaler 路 Jacksonville, FL 路 Member since 2016 路 40 posts 路 18 votes
10y
As a wholesaler I'm wondering as you are, I've recently put a property under contract that is in the same condition, I know there is no room for fix and flip but as a long term buy and hold rental for $5,000 purchase price I would think someone would want to invest.
Rental Property Investor 路 Folsom, CA 路 Member since 2016 路 140 posts 路 70 votes
10y
If it's clearly a big job (not paint, flooring, and re-sell), then I'd rather have some cleanup done. Especially if there's bad drywall and it's already ripped out. That way, there's less garbage in the way and it's easier to see inside the walls and see what damage remains. Essentially, you'd be taking some of the risk out of the deal if I, as an investor, can come in and see things more clearly.
If nothing else, a few hundred to a few thousand dollars of cleanup work is done.
Investor 路 Buffalo, NY 路 Member since 2016 路 668 posts 路 209 votes
10y
Remove carpeting, furniture, loose debris and broom clean. Get a dumpster and do it yourself rather than hire a trash removal company. It's very therapeutic and you might find beautiful hardwood under that carpet. Leave the rest as is from there and spend your time getting good rehab estimates and ARV for your presentation. Don't show studs, I need the walls in place to better visualize potential finish.