subject: Rehabbing A Distressed Property From Start To Finish [print this page] If theres one person whos going to be happy with an explosion in the number of distressed homes, it has got to be the real estate investor who rehabs houses for a living. Why? For starters, he (or she) doesnt have to waste too much time finding a handyman special that he can fix and flip. With the abundance of problematic houses in the real estate market, finding a prospective rehab project is a cinch.
Rehabbing a distressed property is one of the best ways to make money amid the economic recession. If you want to learn how to add value to such a house, heres a step-by-step guide to giving an ugly and undervalued home a new look:
First, you need to clean the property thoroughly. Removing dirt, debris, and accumulated garbage gives you more room to move. In addition, by cleaning up the house, you dont have to cover your nose or scrunch up your face in disgust every time you do the rehab work.
Start the renovations from the inside to prevent attracting unwanted attention. Home inspectors dropping by unannounced may cause delays, which is why you should avoid doing repairs outside the property. The only exception to this is when the roof requires immediate attention. Fixing the roof up prevent further damage to the interior of the property.
Next is to do the repairs or upgrades in the plumbing, electrical, and HVAC systems. Never redecorate the interior of the distressed property without taking care of these things first because youre going to waste a great deal of time and money if you do so.
After ensuring that there are no leaking pipes or wayward electrical wires, it is now time to redecorate your once distressed property. But first, you have to ensure that the inside of the house is spic and span before you start laying out the new carpet or applying a fresh coat of paint.
Prep the walls and ceiling for painting. See to it that you fill out holes and remove dirt and grime on surfaces before you start painting them. After finishing the paintjob, you can now install fixtures to make the interior more beautiful.
Now, lets take care of the exterior of the property. If youre not replacing the windows, make sure that you scrub them clean. Replace worn-out sidings and if the front door is in bad shape, see to it that you will buy a replacement. Add charm to the house by planting flowers and adding decorative accents such as a colorful mailbox and a door knocker.
Once the rehabbing is completed, your distressed property is distressed no more. You can now start marketing and finding buyers for the property. Meanwhile, if you want to good distressed homes in your area, visit www.RehabList.com.
