Are you looking for a perfect flip home? House flipping is when a real estate investor buys houses and then sells them for a profit. In order for a house to be considered a flip, it must be bought with the intention of quickly reselling. The time between the purchase and the sale often ranges from a couple of months up to a year. Most of these homes are the ones that have a little distress, they may have been foreclosed or they may have some damage, but these are the homes that give you the best profit. Here are some ways to determine if a home in need of water damage restoration is worth the buy.
Mold is a fungus that comes in various colors (black, white, green, or gray) and shapes. While some molds are visible and even odorous, mold can also grow between walls, under floors and ceilings, or in less accessible spots, such as basements and attics. Mold can be very dangerous to breathe in and it is important that you hire a professional restoration company. Do not attempt to take care of it yourself. If mold is disturbed it will release spores in the air and will then land in your lungs and make you very sick. A small amount of mold should make you leave that property but the only way to know how much of a problem you would have is to contact a professional to give you an estimate of the damage and cost.
Structural damage is any type of damage that affects the core integrity of your home, especially your roof and load-bearing walls, and floors … Water damage may also undermine a structure’s integrity by rusting and weakening foundational metal structures. Most structural damage is obvious. Water damage can many times cause structural damage. If the water was left to sit on a wood or other porous surface for an extended period of time. Most water damage restoration projects are difficult to predict if you aren’t a professional. Before you make an offer on a home with structural consult a profession doubt the cost of the restoration repairs.
Although flipping remains popular, there are several things you should know when trying to flip a water damaged house. Most importantly, make sure you can repair the damage without it cutting into your profits. Other things to consider include the amount of damage and what other upgrades the house needs. Depending on the price, you might be able to flip it for a reasonable profit. However, it could also turn into a money pit fast. That is why it is wise to call a professional restoration company for an estimate.
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Paramount Restoration performs emergency remediation throughout Greater Cincinnati and Northern Kentucky for water, storm, fire, mold sewage damage and more seven days a week, 365 days a year. Call us day or night for an estimate – we waive 100% of the estimate fees for all calls between 8 am and 5 pm!