Here is an example of a house that no retail buyer would have bought regardless of how cheap because it was UGLY and outdated with a weird choppy floor plan.
I do make safe and secure investments regardless of how ugly this one looks, because I know there was a huge demand for houses in this particular neighborhood. I don’t look for sales or should we says comps because I know my market so well and what it will pay and where. This can only come from longevity in the industry, a proven track record, and a passion for the business. Most get into this business for just money, and if that is the only reason, your days are limited.
Flipping homes is a business. It isn’t just buy low sell high. There are a ton of steps in between that can easily sink your ship or should I say, “Crack your foundation”. I would not recommend a historic revitalization to someone without extensive flipping experience.
The amount of builders that have flopped on this type of house are probably in higher numbers than newbies because a lot of builders want everything new, and that is not what most buyers want when buying a home in a historic district. The home and neighborhood represents Yesteryear! Check it out and see if you feel this home is charming and looks historic.
Delinda has bought and sold over 150 properties, been involved in hundreds more through consulting, mentoring, and coaching. It doesn't matter if you are burnt out, new to the game, a lousy rehabber, seasoned, successful or just plain curious, I encourage you to learn about the wonderful opportunities real estate investing can offer people. I am sure not the sharpest tack in the box, so if I can do it, you can, too.
