7 Stages of a Real Estate Rehab

The old expression, “By the yard, it’s hard, by the inch it’s a cinch,” applies to many areas of life, not the least of which include that often-overwhelming concept known as the real estate rehab deal. Homebuyer demand is now at its strongest in Oakland because homes tend to be larger and less expensive there, plus most properties have more outdoor space. The great news is, home sales and several new listings have begun to pick up throughout the Bay Area since early May after a drastic drop last April.

And so because of this, even if it takes a lot of time and money to do a real estate rehab, it is still a great opportunity to gain a lot of valuable experience from flipping a house. And it can also be a profitable and exciting form of wealth-building but it can be a confusing venture that seems to have more moving parts than a car engine. However, if you understand the process of how house flipping works—and what a real estate rehabber does from beginning to end—you’ll not only gain more knowledge, but your rehab investor IQ will skyrocket.

Here’s a quick primer to the seven stages of a real estate rehab deal to help your fix and flip investor game, and make your investing journey more manageable and realistic.

Rehab Real Estate Definition

A real estate rehab is when investors purchase a property, complete renovations, and then sell it for a profit. These projects can take anywhere from a few weeks to a few months, depending on the amount of work that needs to be done. This is one of the most popular exit strategies in the industry, and rightfully so. Rehab properties can offer wide profit margins while simultaneously helping investors expand their portfolio and network.

How To Perform A Real Estate Rehab

Luckily, learning how to complete a real estate rehab is not as complicated as it may seem. It will require preparation and hard work, but by following these steps you can help ensure your rehab property is a success:

1. Walkthrough the property to get a better idea of the work that will need to be done.
2. Create a scope of work outlining the specifics of the rehab project.
3. Find the right contractor for the job.
4. Organize your critical documents and prepare to get started.
5. Manage all aspects of the rehab project.
6. Complete another walkthrough and make the final payments for the job.
7. Stage the property and host an open house.

Stay tuned for our next blogs which will highlight in detail each step!

Lava Integrity Group, LLC is a San Francisco East Bay Area residential redevelopment company.  We focus primarily in Oakland, CA and Concord, CA. Our team is highly motivated, knowledgeable, ethical and resourceful. Qualified to handle any real estate transaction, our dedicated staff is committed to helping people with their real estate needs and making successful deals happen. Our team of professionals has the integrity to follow up on our promises, and the expertise to navigate any transaction to ensure you’re fully informed for making the best decision possible. 

When we work directly with a home seller, what we provide can not only make for a smooth transaction, but it can also add up to thousands upon thousands of dollars in savings as compared to selling a home through traditional means. With the ability to directly purchase homes and make cash offers, we can create extremely fast and hassle-free transactions.

There are many creative ways to help you out of any situation. We pride ourselves on our reputation for working one-on-one with each customer to handle each individual situation; and it’s our goal to make each client feel like we achieved a WIN-WIN scenario.

We’d love to learn about your situation and see how we can help.  Call (510) 900-4090 or email ([email protected]) us to get a no obligation offer on your home! 

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— see article here: https://www.fortunebuilders.com/real-estate-rehab/