Читать книгу Flipping Houses For Dummies онлайн
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Make sure you have an insurance agent on your team who can help you insure not only the properties you purchase but also anyone who does work for you and doesn’t carry contractor’s insurance. The added cost for insurance is well worth the price. If someone gets hurt on the job, that can cost you big-time.
Locating an Experienced Appraiser
Someone who buys a home typically borrows money from a lender and uses the property as collateral for the loan. The bank or another lending institution orders an appraisal of the property to make sure it’s worth enough to cover the loan in case the buyer defaults on the loan. The buyer typically pays for the appraisal as part of the closing costs.
As a flipper, you don’t need an appraisal unless you’re borrowing money from a lender who requires an appraisal to approve the loan. However, if you’re unsure of the value of a particular piece of property, an appraiser can help you confirm its potential profitability or perhaps present you with some figures that make you think twice about pitching an offer. You can ask the appraiser to provide you with two estimates: property value before repairs and renovations (as-is value) and property value after repairs and renovations (after-repair value). Such an appraisal may cost a little extra (anywhere from $350 to $475), but the additional information may help you make a better decision, especially when you’re just getting started.