Rehabbing in Winter

[Larry Moore]

I am new to rehabbing and wondering what more experienced rehabbers do when faced with winter conditions and a slower market through the snowy season. In the past when I was strictly flipping properties that I had under option, I would generally shut down when the holiday season approached, around November 1st, and start marketing again toward the end of January. Now I am shifting to buying short sales and rehabbing, and will be hesitant to buy a property as we approach the end of the year, particularly if the property needs outside work that the weather would postpone. I would hate to buy a house in Nov/Dec that needed work that I couldn't complete until March/April, depending how much cold and snow we get this year (farmers almanac is predicting a bad one, and last year was worse than most). I could build in extra holding costs and sit on it for a few months, but I really hate to do that (particularly since it would be vacant), and it makes the deal tougher to negotiate with the extra spread.

How do the experienced rehabbers in colder climates cope with the winter season? I am still marketing for preforeclosures, but I am concerned that any short sale I start negotiating now will mean a potential purchase when the weather turns ugly.