Fix and Flip - Items To Be Aware of When Buying That House
*Any of these items could delay the sale or add to the rehab costs*
Near cemetery
Near railroad tracks
Near airport flightpaths
Near noisy highways
On a busy street with double yellow lines
Near power lines
Within two miles of smelling dump
Steep driveways
No garage
Very small bedrooms
Not functional room: pass through bedroom to get to another room
Terrible neighbors: drugs, multiple vehicles in yard, trash in yard
Located in commercial area
Less than two bathrooms or no location for second wash when rehabbed
Less than three bedrooms - 4 or 5 better!
Located in bad school district
Located in flood zones needing flood insurance
Smallest house of the largest house in the neighborhood
Multiple entry steps with 5 or more
Multiple building additions that look like additions (Maybe not building permitted)
Less than 1200sf - 1400 sf
Possible lead based paint if built before 1978
Possible aluminum electrical wiring if built around 1971
Water problems under crawlspace or in basement foundation walls
Asbestos
Mold
Flat roofs
Not lived in for more than one year
Electrical panel and wiring need upgrade
PCB "polybutylene" and/ or galvanized pipes for water supply and/or sewer drains
Driveways in the neighborhood: dirt, gravel, asphalt, concrete, none/ park on street
Neighbors have multiple junk vehicles parked in yard
Will your house be the best in the neighborhood after rehab
Are you over building
Low ceiling tile: Is it hiding anything
Major street cracks in foundation and/or brick veneer
Chimney pulling away from house
Soft/ spongy floors when walking on
Buried fuel/ heating tanks on property
Septic tank and seepage area needed inspection or improved
Has historic preservation design restrictions
Is neighborhood for rentals only
Located in rough/ depressed section of town
Non-conformity in planning and zoning
Borrowed from john@belairlending.com919-961-6611www.theprivatemoneyteam.com
