With the winter coming in the Northeast US, I was curious to know if any rehabbers are fixing up houses in the winter with the snow coming?
I’m looking for wholesale deals in upstate New York. If I find some, I need to know if there would be any wholesale buyers that would be willing to pick up my deals. Would you rehabbers buy now, or wait till the spring.
Thanks for the input.
Mike W
Hi,
I did some properties in Buffalo years ago and at that time my understanding from those I was working with were if it's bought in late summer you usually have time to put on new roof, new windows and finish exterior water tight before snow flies you can then finish interiors during winter! Although as a contractor I know anything is possible if you have enough money to throw at it, it is not always financially feasible to try to finish roofs and exteriors in the dead of winter!
I would have to say if a property is a really good deal for me, I would buy reguardless of time of year, however you probable lose half of all potential buyers you would market to buy from you during the 4 months of winter! Considering escrow time your really losing about 3 good months of less potential buyers!
GR
I do rehabs in Buffalo all year long, sometimes it will finish in the dead time of Dec through late Jan, and so we end up with a few extra holding costs, no big deal with the prices we can buy at. Being a general contractor my whole life here, there is nothing we cant fix or do no matter what time of year it is, just a fact of life here with living and dealing with cold / snow.
Looking for an investor to help make more deals though.
Not sure how much wholesaling would fly locally as theres plenty of deals to be found if you have the cash, no need to buy other peoples finds.