Does that Flip have a Swimming Pool? Watch out…

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Almost everyone likes to go swimming, or they at least love going to a pool party.  However, homes with swimming pools have always been a double-edged sword.  In the right situation they can add tremendous value but, under many circumstances, they can potentially be a money-pit.  A recent post on Realtor.com highlights the perils of buying a distressed property with a pool and lists five lessons learned from a buyer in Seattle who learned them the hard way.

“For one, the pool equipment needed to be replaced. A new, energy-efficient heat pump cost $4,500. We bought a pool-cleaning robot for about $800. Just to get the pool running, we spent about $10,000.”

We’ll just clean this up in a week, right? Sally Herigstad

Click here to read the full story at Realtor.com.

 

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Director of Education & Outreach, National Real Estate Investors Association

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