All Forum Posts by: Doug W.

BINGO!!! This should be laminated and passed out to every "wholesaler" (I use that term loosely) who wants to get into that biz.

"I want to know if either doing fixer-ups is better or just renting out or both"

That's kind of like asking "What type of car should I buy?". The answers are going to depend on your goals, your budget, and your timelines. 

What do you mean "for big investing firms"? 

I put up signs in the front yards of my rehabs. It generally drives some calls. About half of those are realtors who are trying to get a sense of what the selling price will be so that they can comp other properties for their clients. And there are also a lot of tire kickers who claim to want to purchase but 9.9 times out of 10 are not qualified yet with a lender. So I pretty much send all of these calls to my Realtor to deal with.

If you are truly new to this I would pass on trying to flip the 10k sqft one. There is a lot of costs that need to be considered despite how much you think is finished.

One thing that I tend to find with unfinished builds is that the permit inspections failed... often multiple times. If you are able to look at the comments from the inspectors I often find serious issues that need to be addressed. Sometimes it means completely redoing what has already been done including deconstructing what is there. 

I guess what I am trying to say is that just because work on the property appears to be "done" it doesn't guarantee that it was done correctly or is safe.

I don't understand what you are asking. Can you clarify, please?

Some of those prices seem very low: paint, windows, roof, framing (even if that is just for labor), rough in electrical (if it is the entire house) 

Your purchase price has a double negative. Plus, the purchase price should be SIGNIFICANTLY less than the ARV Sales price.

I would put my big boy pants back on and forget about this one. If you are so concerned about breathing mold or being exposed to asbestos you need to stop looking at potential rehab properties. 

If you do decide to continue looking at homes you should consider buying a respirator at Home Depot or Lowe's and keeping it in your vehicle for this reason.