subject: 4 Simple House Rehab Rules [print this page] If you think doing a house rehab is as simple as the one you see on television, think again. Rehabbing properties is serious business and you cant certainly fix and flip a house in an hour or less. It requires patience, dedication, resourcefulness, and perseverance. If you dont have any of these qualities, Im afraid you wont last long in this business.
But if you think that you have what it takes to survive in this particular real estate investing niche, then you better get started and start working your way towards building that strong real estate empire. To help you out, here are some pointers that you need to consider when rehabbing properties.
Create a work schedule and abide by it. Always remember that you must be able to finish a fix and flip project within a couple of months or less because if a property stays with you for so long, it is likely to lose its value. Therefore, it would be wise to set and accomplish weekly and daily goals to ensure that you will finish your project on time.
Dont forget to secure permits before starting a house rehab. To avoid delays in the work schedule and to prevent potential problems with the local building inspectors, see to it that you have all the permits required to fix a flipper. Im sure you wouldnt want to be caught unprepared in case the building inspectors decided to make a sudden visit.
Obtain the assistance of professionals if you dont have enough experience in doing construction and home improvement projects. If you attempt to do the rehab work on your own despite your lack of proper skills and knowledge, you might put yourself in danger. Therefore, if dont want to pay for unnecessary medical expenses, seek professional help. In addition, by letting experienced contractors do the repairs and renovations, you can be sure that the rehab work complies with the local building code and is of high quality.
Keep decorations simple. Dont experiment with the color of carpet and, of course, with the paintjob to avoid having a clash of opinion with a potential buyer. As much as possible, keep your personal preferences at bay when doing a house rehab if you want to avoid blowing your finances and spending money needlessly.
Rehabbing houses can be fun and enjoyable. If you want to learn more about this method of investing in real estate, go to www.Rehab-Real-Estate.com.
