Episode 12 - Project #6 - Moldy Basements
Deal Details
- Address: 4770 Elfreth Johnson Drive, Birmingham AL 35215
- Type: Flip
- Year Built: 1974
- SF: 1,080
- Mix: 3/2 (Converted to 4/2)
- Year: 2019
- Timeline: 5 months
- Project Cost: $50,000
- Purchase Price: $58,047
- Rehab: $1,438
- Sales Price: $80,000
- Profit: $20,515
- Before Photos
- After Photos
- Video Tour
Beware of Basements
- Before buying a house with a basement, do the following:
- Get it moisture-tested
- Talk to local contractors about common issues with basements and have an idea of common repair costs
Don’t Partner with Contractors
- Usually doesn’t work
- Keep the relationship simple (trust me)
Key Takeaways:
- Be careful of buying houses with basements
- Don’t partner with contractors
Episode Resources:
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