I was working with a new client that was buying some homes with another company. He thought one of the properties had been finished on construction that I had listed. I got the property under contract only to find the property was not all the way done and needed some finishing. I stepped in and helped him there..
He also had two other properties that he had purchased with this company that needed to be rehabbed. One of the properties was already quoted by the company that did the first home. I met them at the home and looked at what they were going to do to the home rehab wise. I was there for an hour and decided that we could save him $12,000. Being in the business since 1985 I understand that the clients interest needs to be my main concern.
The home did not need all the upgrades that their company wanted to do. When your looking at rehabbing a home and selling it you need to do all this before you buy the home, unfortunately that was not done with the other company he was working with before they purchased the home. . This home would have made almost nothing for my new client and a lot of money for the construction company. We will get it done and make a profit for him.
The third home which I am currently working on was in a great location, but a horrible layout. We are adding a new bathroom and getting the home updated with a new 1st floor master bedroom and bathroom. That is the video below. This home should have a great net profit.
Anytime your buying real estate as an income or flip property make sure you hire a Realtor that has been in the business a while and can show some of the properties that they have finished and rented or sold. Getting the right team around you when your buying Income Real Estate makes all the difference in your pocket book.