How Much Does a Renovation Cost, Anyway? (Part 1 of 2)

by Vena Jones-Cox Question: I keep hearing other members of my real estate association talking about fixing up a whole house from top to bottom for $10,000 to $20,000. When I get bids for properties I’m thinking of buying, I find that I can’t get the same work done for less than $30,000. What am […]

Wholesale vs. Illegal Flip

by Vena Jones-Cox Question: Now that wholesaling is illegal, what do we do for quick cash? C.B, Cincinnati Answer: I’ve gotten this question a lot lately, thanks to the passage of the new HUD “flipping” rule and the subsequent attention the media has been paying to “illegal flipping.” Let me make the immediate statement that […]

Rehabbing Houses Part 1 of 5 – Creating a Detailed Scope of Work

First off, when we talk about “rehabbing houses”, we’re not talking about small maintenance or repair jobs. We’re not talking about hiring someone to come in and stop a faucet from leaking. We’re not talking about something that can be handled in a 1-2 hour service call. We’re talking about a situation where probably $3,000 […]