Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 18 years ago,

User Stats

8
Posts
0
Votes
N/A N/A
0
Votes |
8
Posts

Suggestions on Rehap Project

N/A N/A
Posted

I am thinking about purchasing my first rehab house. I am a little nervous about this and would like any advise. The house is a large 2 1/2 story home in a small town in Indiana. It has six bedrooms on the second floor. The bathroom on the 2nd floor needs to be gutted and redone. The bedrooms just need painting. It needs some new electrical run and the kitchen needs to be redone. I had a contractor give me an estimate on the inside work at $20000. I can buy the home for 20 -$25,000. I am pretty certain I can sell it for around $70,000. If I fix up the outside with new siding and a new roof, I would need an additional $15,000. Then I should be able to up the price to around $90,000. I don't have the money to pay for this out of pocket, so I would like to borrow the full amount if possible. I could have it ready to sell in less than 2 months. Any advise for a nervous newbie?

Loading replies...