I have found a property that is in need of total rehab top to bottom inside out and i’m trying to put together a time frame to have the work complete so i can calculate the cost of holding the property and exc…as for being profitable if done right this deal will be vary profitable asking price is only 30,000 and if the total cost of rehab is $20,00 i should walk a way with about 35,000 profit on the low side. but I would like to know how much time do you guys give for rehab 3-6months
thanks in advance ???
depending on many variables like are your doing the work yourself, your location, how fast your market moves, are you willing to sell it fast at a discount?
For something that needs a moderate to serious level of rehab; it will take 6 months unless you are willing to sell it at fire-sale prices or live in a red-hot market; I would figure 12 months of hold time as a min.
BTW, I am conservative and only do deal that I know I can make money on.
The real estate is hot here on the island and the neighborhood is a desired one so I feel i can sell the house pretty fast, I’m going to have a general contractor do all the work for me.How can i find out the total it will cost to hold the property lets say for 12 months?
thanks for the response.
Just add it up…