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Updated over 7 years ago on . Most recent reply
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Best option for selling to rehabber for most profit
My 85 year old father in law has a house in Denver, Green Mountain Estates that he wants to sell soon. The house is split level, 4 levels, 3 bed, 2 3/4 bath, large two car garage with about 3000 total square feet including the unfinished basement.
The house is very dated, harvest gold bathroom fixtures, green stain, 2 hinge flat green/brown stained flat panel (luan) doors. Kitchen has cherry cabinets, but green cork floors and green wallpaper.
In y'all's experience what is it worth to a rehabber to hold the note and ask for a share of the profits? Other options to maximize profits?
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@Kevin Sapp so it really depends. Lame answer, I know. How do you find a rehabber that is trustworthy? How do you know they can do the best rehab (quickest, cheapest, and sell for most money)? Too many moving parts. IMO the best bet is to offer it for sale on the MLS. There are many buyers looking for fixers to live in and flip. They don't have to realize a profit on their labor, figure in the time value of money, nor really even know what they are doing. They pay top dollar. It's not worth the risk of teaming with someone you don't know for a potential few extra dollars.