What Should I Look for in a Flipped House in Fresno, California 93711
If you are like most people then you like to see houses that shine, ones that pop out at you. When you are looking for a home to buy and you wonder "what should I look for in a flipped property in Fresno, California 93711" here are a few things to consider. Investor's who flip homes normally don't flip homes because it is easy or it is the only employment opportunity they could manage to keep. They flip homes for the profit that they "could" get from acquiring a property at the right price, fixing some things and selling it at a considerably higher amount. It is all about the bottom line.
In order to secure a nice profit after they pay an agent a commission to sell the house, pay for materials, pay for contractors and labor, etc., they may be tempted to go light on some of the repairs and or cover up others. Always hire a home inspector whenever you are buying a house, especially on a flipped house. Those of us who have walked into a number of houses typically can tell when the house looks similar to "lipstick on a pig." If you are looking at a flip in a $500,000 neighborhood and the vanity in the bathroom looks like a bottom of the barrel vanity from home depot then that is a good indication that they may have cut too many corners to save money or increase profits. Try and make sure that the repairs or remodel is consistent with the neighborhood. If the property is in a gated community with a HOA and the house has freshly painted purple trim, garage door and front door you may be required to re-paint the house after you take possession. Sometimes HOAs can have strict rules on exterior colors.
One of my pet peeves when viewing flipped homes for sale is when the house has popcorn ceilings and you can tell they have been painted several times. Yes, there may be fresh paint on the inside from floor to ceiling but why not go the extra mile in removing the old fashioned texture? They may have been painted so many times that moisture no longer penetrates the popcorn, making it very difficult to scrape off.
Probably the most obvious indication that corners have been cut is when you find drywall that has been compromised due to moisture damage. If the investor or contractor refuses to go as far as removing damaged and or moldy drywall and has chosen to simply paint over it with some Kilz, then run and never look back.
What Should I Look for in a Flipped House in Fresno, California 93711
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