Found a junker? With a motivated seller? I bet the price looks great. So much lower than comparable properties. Seems like a no-brainer, right?
Whoa, Tiger!
Whether you’re buying real estate or wholesaling it, you will want to know the rehab costs. Huge construction costs can turn what seems like a great deal into a total loser.
Most real estate investors are not construction cost experts. Especially cost experts for all the different trades:
- Framing
- Roofing
- Electrical
- Plumbing
- Landscaping
- Sheetrock
- Carpentry
- You get the idea
To really do your due diligence, you need to solicit a bunch of bids from a bunch of different contractors. Or make your project more expensive by hiring a general contractor (GC) to do the bid for you.
The bidding process can sure take a lot of time. And for good deals, time is not on your side. Good deals don’t…
JP Moses
is a real estate investor in Memphis, TN, with experience ranging from land lording to note buying, rehabbing, and wholesaling. However, wholesaling is the area that he enjoys most and where he bring the most experience and expertise to his students.