If you've ever thought about rehabbing homes for profit, make sure you have the capital and patience to get to closing. Unlike the TV shows, the rehabbed home may not sell in a "Bid War", may not give you a 100,000 profit and isn't particularly easy to rehab. Unlike the TV shows, its difficult to to find work crews that are licensed and bonded, show up when they're supposed to and do quality work unless you're "on them" every day. The TV shows do not talk about the carrying costs which can quickly erode any profit one might realize if the process from purchase to sale is not completed in a short period of time. This house, at Park Creek turned into a total renovation down to the studs (which wasn't the original plan) because I renovate homes to standards where I would actually move into them myself. This property was a pleasure to restore and is now ready for the right buyer to come along.
Rehabbing Homes is not like the TV shows!
Dec 05, 2018