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Updated almost 6 years ago,
Should I Put Vinyl Siding on My Flip?
I'm currently under contract for my first flip! Initially the intention was to BRRRR the house, however it is out of state and while I could pull all of my money back out it would be a marginal deal on a monthly cash flow basis. While the spread isn't huge on the numbers below, I'm being conservative in the ARV.
My question is- should I spend the extra $9k for vinyl siding? I understand it looks cheaper, but the current siding is in "okay" condition at best. Some other houses in the neighborhood have vinyl and some have cedar shaker. My thoughts are to save the $9k and spend a little more inside the house (tile shower surround, granite counter tops, kitchen back splash). This is a 3/1 in a C-class neighborhood in upstate NY if that helps at all. Picture below.
Purchase:$28k
Rehab: $21k (including $9k of siding)
ARV: $75-85k