REHAB ISSUES OVERLOOKED
In a previous post I harped on the fact that first time flippers miss many items that need repair when analyzing the home and calculating the construction costs. I have decided to post on a recurring basis some of the main items missed by newbies that readers can learn and hopefully account for items they may have missed.
This short blog post will focus on the fireplace and the corresponding chimney. Most people think you will need to clean or sweep a chimney and install a nice mesh screen on the exterior. They account for approx $200 - $300 for a sweep that should bring the fireplace into working condition.
Welp....a good ole sweep just aint gonna do the trick in most instances.
1. CHIMNEY LINER - "A clay, ceramic, or metal conduit installed inside of a chimney, intended to contain the combustion products, direct them to the outside atmosphere, and protect the chimney walls from heat and corrosion." Although building codes vary from one state or locality to another, the installation of flue lining has been recommended since the early part of this century, and indeed most fire codes now mandate liners.
Retail liners can run $2,000. Find a solid company that will work with you and write up a report that you can pass off to the home buyer that they see that you did your due diligence in this area.
2. CHIMNEY CAP - This exterior fixture prevents rainwater from getting into the chimney liner and also keeps out unwanted animals.
Caps range in price and should be installed by a chimney company or someone that is familiar with this sort of repair.
All in all chimneys can run $3,000 instead of $300. Beware of the chimney as it can be a reason why you dont make as much money as you thought you would make.