In an attempt to save money on renting, I decided to look for a house right in the middle of this pandemic. I know it may seem nuts, but the interest rates are hella-low and home prices in my area are starting to increase a bit as a reflection of low rates. HOWEVER, the homes that I’ve been seeing listed in the city adjacent to my area are rehab properties that have been minimally rehabbed and come with a plethora of work that has to be done. Today I want to rant a bit about real estate flips and how the city is letting individuals pass on poorly updated properties in order to make a quick buck to build their REI portfolio. Let’s put an end to it soon!

The amount of time and money that I’ve spent getting two homes inspected in the past two months, only to find that the house had major electrical problems, major termite damage or a hoarder’s room worth of junk stashed underneath the house is ridiculous. I’m not knocking the hustle by no means, I get that folks have to get paid, and real estate is bustling with newly minted rehab investors who pounce on the opportunities to add a barn door to a bathroom or gray wood flooring to a kitchen, but let’s do it right the first time, some of these rehab-preneurs in my city are really making the ones who do good work, look terrible.

So as not to go into too much detail (I’m under contract right now) I just want to say, FOR THE BUYER, do the work that really should be done on the home, like fixing the electrical, replacing pipes and ensuring that there is no pest in or can enter the house. We all like a good stainless-steel appliance or two and we enjoy walking on nicely graded wood floors, but for real, put the hot water heater inside the house!

XoXo,

BGW