Home Improvement Contractor - Licensed Contractors
What kind of markup by percentage does a contractor expect when they flip a rehabed house ?
A local contractor is rehabing the house next door ( 3 family ) at the same time im looking to downsize to a 3 family. I'd like to be able to approach him with a reasonable proposal to do a 'swap' for my 1 family house To be able to make a fair offer that works for both sides, I'd need to have a guess at what he expects to profit ( as an average ). The houses are similar in size and layout. Thanks !
Public Comments
- Do you have any information on what type of improvements and upgrades he may be making to the home? Is he looking for a quick flip with minimal expense, or is he doing a full remodel to maximize the homes value?
- Your not very clear as to what the properties are.I can only assume you mean a triplex vs your single family home. Most folks that deal in duplex/triplex are investors,the money.These could have been purchased as distress sale by owner or foreclosure.We here call them fix and flips and the prices vary. You can normally go online to your county public records and find the sale price,this will give you a starting number of what he is working off of.Anything beyond that is amount of work done,quality,speculation. Triplex units are usually worth more than a single family home,unless he is splitting them into separate units for sale. My Best
