subject: Basic Guidelines When Rehabbing Houses [print this page] Have you ever dreamed of being your own boss? Do you have the knack for designing or renovating things? Do you have enough money to start a real estate business? If you answered yes to all the questions above, then you have the potential to become a successful rehabber! What is a rehabber, you ask? This refers to a person who is into the business of buying undervalued houses and earns profit from renovating these dilapidated homes. Once the renovation is complete, the rehabber sells it for a higher price. But before entering this type of livelihood, below are guidelines to help you kickstart your career in rehabbing houses.
Before whipping out your wallet and start purchasing houses for renovation, know what you are getting into first. The first step is to research about real estate in general. Fully immersing yourself into the industry will give you a wider knowledge and will give you less chances of making mistakes as a first-time rehabber. Check out online real estate websites like REIWIRED.com for references. Its just like studying for a difficult exam way ahead of time and acing it because you prepared well. Rehabbing is very similar to that so make sure you do a lot of research.
If you already purchased a house for renovation, thoroughly inspect the entire property before getting into the fixing part. Check if there are appliances and fixtures that are still in good condition. By doing this, you could minimize your repair costs. Veteran rehabbers already know thisinstead of discarding old pipes that are still sturdy, a little plumbing skill is needed to spruce the pipes back to its original state. With these little things you could do yourself, you can save a lot of money and minimize the contractors cost. Remember, a little goes a long, long way.
As much as you want to apply all the creative designs you have in mind while in the process of rehabbing houses, stick to cleaner, basic designs like using classic paint hues and neutral-colored carpeting. Make it look clean and presentable to any person who walks in to check the property. Make those people feel the warm, homey feeling every home should have. Refurbishing houses according to the homebuyers preferences will increase your chances of selling a house almost instantly.
