Renovation vs new construction house flip-when to remodel vs tear down

Renovation vs new construction house flip-when to remodel vs tear down
Flipping



How do you know when to renovate the house or simply tear it down to build a new construction house? Well, today baby P(Preston) and I are going to break down the numbers and take you to a house that we decided was a tear down. Sometimes the construction costs are so high, it prices you out of doing a renovation house flip. So us real estate investors must be creative not only with financing and deal structuring, but when it comes to the full picture & scope of how to extract the highest value from a piece of property, even if it means getting rid of the existing structure.
Come along on a short journey with us as we walk you through a house that we’ll be tearing down because we simply couldn’t make the renovation numbers work regarding the ARV(After Repaired Value) & and how much it was going to cost us to fix it up, closing costs, holding costs, realtor fees etc.etc… See exactly what a tear down looks like!

Need financing, This lender has finance over $1.8M for my Roundup fam. Use this link to get my discount: https://www.fundandgrow.com/prequalification?r=krishaskins

3:00 -Tear Down costs

#renovationvsnewconstruction, #whentotearahousedown, #newconstructionhouseflips

https://www.youtube.com/watch?v=5kLfsrmtqeM&feature=youtu.be

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23 Comments

  1. Please make residential construction EDUCATIONAL VIDEOS!!
    Teach us how to start a project. Step by step from start to finish of the project!!!! Would HIGHLY appreciate such content!

  2. Mr. Haskins, are those numbers based off of you having construction employees, i.e. paying your contractor approx. $150 – $200/day and the subcontractors $100 to $125/day and writing off the cost of materials being purchased, or is that you going to a construction company and they charge you based on the average price per sq ft?

  3. Am I on crack or does anyone else think the house has decent bones? I would have spent 10k max to make the house nice and got some tenants in there @ at least 800m if I had put central and appliances included. It’s just STUFF that makes it look like shit

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