If you are looking to buy a house for sale in Louisiana to rehab and sell for a profit there are a few things you need to keep in mind. Here are a handful of tips on buying and selling homes in need of repair.

When you are buying a house to rehab there are some things you want to keep in mind to make life much easier in the rehab process. I have rehabbed and sold over two hundred houses in my day of buying and selling land and homes in several states including Louisiana, Mississippi, Texas, and Oklahoma and the number one rule I always followed was the home must be on a slab. Here are some reasons to stick with a house on a slab, foundation issues, I bought a house in Texas once and you could sit a bowling ball in the center of the house and it would have knocked down a full set of pins before it hit wall and gone out the door, needless to say it cost thousands to level the floor. Other problems that you might run into with a house raised is moisture under the house, without proper ventilation you could find the floor and lower part of the walls rotting on you.

I will suggest a few things on the buying end of a rehab house for sale in Louisiana; first always plan for 15% more in repairs than you think you will run into. When you are buying the home you can negotiate the price on the shape of the house but also tell the seller you will buy as is but for a much lower price, truth be known it will be as is no matter what you do so use it to your advantage. If you are inexperienced hire a home inspector and have him or her give you a full report on repairs they see, a professional here may save you thousands but use this only on a house you have for either a good price or a project your just not sure about this service will cost anywhere from $ 250.00 to $ 500.00 and you just can’t do this on every house you would like to buy.

Let’s take a look at what to do after you get your first house bought, you need a good contractor and one you can count on, good look here they are hard to find. Once you have a good contractor make sure up front on how he will bill you, demand a detailed invoice so you know exactly what your paying for and I would suggest that your contractor provide you with a material list and you go purchase this to control cost and make sure he is not filling his truck with tools on your dime. If you can and are able work on the project some yourself if for no other reason to watch your contractor and see how he is working out, is he billing you for time he takes a nap or does he hustle you need to so you can use him again or let him go after this project.

If you are trying to get into the house for sale in Louisiana rehab market remember these tips and also in today’s economic environment be ready, willing and most important financially able to sit your house for at least one year. If you can’t hold the project for this time frame you need to wait until the real estate market gets better before you get into this business, taxes and interest could break you in the process.

Author Bio: In 2000 Chuck and his wife Lindey developed a website called Mississippi-Landsource.com. The website was launched for uniting the real estate market in Land For Sale In Mississippi. In 2009 more sites were launched as sister sites for other states like Land For Sale In Louisiana and Land For Sale In Alabama.

Category: Real Estate
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