Call remodeled comps in the area that has been bought and sold within a year 

Hello everyone,I’m the owner of a seasoned general contracting company with extensive experience in residential remodeling and assisting other investors with property flips.

It can be tough you can see houses in Detroit that look like they have been remodeled within the last 3 years but they are trashed and up for sale most likely a section 8 landlord getting a bad  tenant and wants out.

My worry is the old house might be too much of a hassle to fix latter down the road and increase rent.my thought are that buying a newer one would save me remodeling hassels.

But a couple of years ago (2020) we refi'd the houses we've had a long time, bought another and remodeled it with the intention of making it an airbnb ----and the time and effort put into that remodel made me question what I was doing with these houses. 

One had been rented by the same couple for 7 years, one needed to be cleaned and some repairs, and the other had been in the middle of a remodel when the original owner died and his 4 daughters who couldn't agree on what day of the week it was decided to sell.Based on the square footage (2024) alone, I got a great deal. 85,500 with 10% down and 10% interest.

We had the same idea in 2019 while remodeling our first SFH.

1. use the 1031 money to buy 2 investment properties with a combined values >= the sales price2. use the 1031 money to improve one of my existing investment properties (e.g. building an ADU / remodeling)Thanks

Hello All,I am a remodel contractor and have moved into flipping homes especially in the higher end nieghborhoods like N.

Roughly a 1300 profit after taxes etc etc. last year was a down year due to evictions and remodeling. this home is on a conventional loan.