subject: A House Rehabber And A Contractor [print this page] While some people think of helping an alcoholic or a drug-dependent person get over his bad habits whenever they hear the word rehab, the word has a different meaning for those who invest in real estate. For real estate investors, the word rehab translates to a great opportunity to generate positive cash flow and gain the financial freedom youve always wanted.
In the real estate business, the main task of a house rehabber is to renovate and refurbish old and undervalued properties for profit. This process of investing in real estate is called rehabbing or fix and flip. Rehabbing is considered a dream job for a handyman, as well as those who enjoy doing home improvement projects. They got to earn a huge sum of money while doing the job that they are good at.
But if you want to be a house rehabber but you dont know anything about doing handyman tasks, one of the best ways to complete a fix and flip project is to hire contractors. Dont be embarrassed if you lack home improvement skills because even some of the most successful real estate investors who fix and flip houses for a living ask someone to do the rehab job for them. Therefore, if you want your rehab project to come out really nice, it would be wise to follow the example of the veterans in the rehabbing business.
Here are the reasons why you should consider hiring contractors instead of doing the repairs on your own when rehabbing a property:
1.Renovating an old house can be mentally and physically exhausting. If youre not used to doing such a task, it would be difficult for you to complete the project that you have just started.
2.Always remember that time is very important for a real estate investor. If you hire a contractor for your fix and flip project, you can save a lot of time since you can quickly finish the repairs on the property you want to rehab.
3.By hiring competent contractors, you can avoid problems with the local building inspectors. Because the repairs are done professionally, you can be sure that the renovations comply with the local construction guidelines.
4.You can spend more quality time with your friends and family.
A little reminder, though. A house rehabber like you should screen contractors first before hiring them. This way, youll have the assurance that the people you want to be part of your rehabbing team are indeed capable of doing their jobs.
