What would you do to this house specifically?

[Patrick Philip]

I'm thinking of taking out a HELOC to fix and flip this house.

http://cheaphomedeals.net/show_listing_details.php...

Judging from the pictures, what should I do to it?

[J Scott]

Originally posted by @Patrick Philip:

Originally posted by @J Scott:

What would it cost to fix it up, and what would the resale price be at that level of renovation?

Run these numbers for different levels of renovation, and that will tell you which one (if any) you should pursue.

 I've never rehabbed a house before so I don't know what different levels of renovation are. I'm asking what you would do, like...

Update the cabinets? What would you do to the exterior?

If you updated the cabinets, how much could you sell the house for and how much profit could you make?

If you did the exterior, how much could you sell the house for and how much profit could you make?

If you blah blah blah...

These are the scenarios you have to run, and then determine which, if any, are the most profitable.

If you don't know how to do that, that's what you have to learn.  If the business were as simple as someone on an Internet forum telling you, "Do this, don't do that, get rich," would you believe them?  You shouldn't.  It's not that easy.  In fact, it's not easy at all.

You have to learn first, and then do the work.

For reference, BP has a great book on the topic...