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Updated over 1 year ago,
House Flip Opportunity?
I moved into my neighborhood four years ago and keep running by this house that looks abandoned. I think it would be a good house flip but don't know how to go about it. I found the owner's name and the contact address is the home which no one clearly lives there. Based on the information I found, I suspect that the homeowner is an older person who can no longer care for it. The outside is disheveled with a couple broken windows, holes in the wall, and deck that is falling apart. Who knows what's happening on the inside. It would be a big reno job. However, I think it would sell well since there is high demand for our town and low inventory. The house is also in a preferred school zone on a quiet street. It's an established neighborhood with sidewalks and other families.
A little background information on myself. I am a residential architect so I am confident about designing and project managing a reno project. I would hire a GC to do the work. The house is nearby so I can walk over to check on it. I definitely don't have the funds myself to finance it so I need to figure that part out and run numbers. As I mentioned, I am new house flipping so I am looking for any insights or advice on what to do next, how to finance it.