Selling a rehab project...quickly

[Teren Cooley]

Hi everyone,

So I’m a pretty new investor and I just closed on a property that needs major renovations. Floors, drywall, electric, roof, maybe plumbing, but I’m no expert and can not evaluate these things myself. I do know that there is already a well and septic system and the cinder block foundation still looks to be in great shape. Also, most of the studs along with the stairs still look good. That’s about the extent of my observations.

I bought it because it’s on a nice piece of land near some waterfront and I got it for a ridiculously low price and it just struck me as a no brainer. I’m concerned about cash flow right now and wanna sell this thing ASAP so I can move on to some other deals I’ve got.

How would you guys suggest moving forward? I don’t wanna invest any more at this point unless some inspections are completely necessary. I know the profit margin is there basically no matter what, but obviously I wanna get as much as I can for it. I’m thinking 75-85% I’d assessed. I’m already working on getting it up on the major channels (Zillow, fb, fl) but wanna be more proactive and line up a buyer soon. Thinking about calling builders and contractors but not really sure where to start there. Thanks in advance for your input!