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