My husband and I got a couple of properties last year so that we could flip them and make a big profit.
- We bought the places sight unseen and when we got there we saw that there were a lot of issues with the properties.
We knew that we were going to have to do a ton of work on them before we could sell them for a profit. Not only did we have to work on some of the electrical issues that the house had, but we also had to do all of the painting and replace all of the carpets with hardwood flooring. On top of all that, and probably the most expensive repair that we had to do, was the fact that we had to totally replace the entire heating, ventilation and air conditioning system. I don’t mean that we just had to replace the main HVAC unit itself, either. We actually had to go in and tear out some of the old ductwork and completely replace the ductwork system too. It was a huge mess. It was actually more than we had bargained for when we bought the house thinking that we would flip it. I never dreamed that we would have to do so much work on the HVAC system itself. We finally ended up hiring a local HVAC contractor to come in and do the work for us, because it was just more than we were able to get done ourselves. Next time we decide to buy a house to rehab and flip it, I’m going to make sure that the HVAC system is already intact so that we don’t have to worry about it.