Here is an example of a house that no retail buyer would have bought regardless of how cheap because it was UGLY and outdated with a weird choppy floor plan.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.