Houses with septic and or water wells
I am looking to start my real estate investing by doing a flip. As I am looking for homes in the area I want to purchase, I notice that some homes are on septic and/or have well water. So I am curious what are the costs that are associated for converting these over to sewer and public water? Also, as I am new to this should I minimize my risk and avoid these issues?
Most Popular Reply
#2 Investor Mindset Contributor
- Investor
- Milwaukee - Mequon, WI
- 7,864
- Votes |
- 5,469
- Posts
#2 Investor Mindset Contributor
- Investor
- Milwaukee - Mequon, WI
@Richard Hernandez the key to successful flipping is keeping the 2do list short. A long list eats your profit. Sounds very simple, it is not.
If you have a property on well and septic most likly this is because there is no public sewer and water line in the road, so you can't make the conversion. If the city expands their sewer district most of the time connecting is mandatory.
So there is nothing wrong with a private well and POWT if you can leave it alone if you can, but be sure to include a well and water test and spectic inspection in your offer. In Wisconsin the seller typically pays for the test. A failing system is usully a $25k job and a new well about $10k.