Construction Rehab
 House flipping or Quick Turn as we like to call it here at All Housing Solutions can be profitable. There's more houses than ever available for sale now. It can, however, also be a financial nightmare. You need to have the wherewithal and resources to get through a house Rehab without losing your shirt. All housing Solutions would like to offer some of the things to consider when looking at this potential source of revenue.
We offer the following information and tips as a tool to help decide if you want our company to do the Rehab or to be consultants and work with you from purchase to sale!
Step #1
Timing on your purchase is important. You need to plan on having everything done in time to sell before bad weather. Trying to resell a house in the fall and winter is costly. The house must be heated even though it's empty. Nobody will like walking through a cold house in winter. The few people who do look at your house in the winter will be pickier. You will be carrying the note for all the months you own this investment. Plan on using a Realtor to sell it for you unless you want to be a slave to everyone who wants to see your house. We have the right Realtor for this project, just contact us to set up a call.
Step #2
Before you buy you really need to go through the house. A house might look great from the outside but there could be a ton of problems on the inside. Bring someone with you who can spot these problems and help you figure out the cost of rehabbing. Mold problems, foundation problems, irate homeowners who dumped tar into the toilets is not uncommon. Be sure you've done comparison shopping in the area to know what the house should sell for. Comps are everything! This is going to be your starting point on figuring rehab cost VS profit.
Step #3
Security must be considered. Everybody in the region knows the house has been empty. Soon they will know someone is working on it. What's going to keep the bad ones from breaking in and stealing your tools and items your installing when nobody is around? How often do you want to replace all your power tools? There's a lot of desperate people out there now.
Step #4
Figure out your costs and then add 15% on top for the unknown factor. You are always going to run into cost overruns and nasty surprises doing this type of work. Once you get a property be prepared to move on it quickly and get it done ASAP. It's amazing how quickly time will fly by once you've pulled the trigger.
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