7 Stages to a Real Estate Rehab: Step 1 – Preparing/Creating A Plan
September 9, 2020
Kicking off your rehabbing project entails more than a cursory look at renovations needed and hiring a contractor. You first need to carefully assess the property, so you can ensure all aspects of the real estate construction process are on course. When creating a plan, there are two things you need to determine.
Repairs Needed
During your on-site visit, take with you a camera, graph paper, and measuring tools. These will help you gather a more detailed assessment of the property. Take photos of problematic areas and accurately measure the repairs needed. Your photos can also give you before-and-after shots of the house to show your clients. Take a flashlight with you for those dark corners and rooms.
The Improvements that Help Sell the House
Is there a particular room that needs more sunlight? Maybe installing a bigger window, or perhaps a skylight, would help. Should you install carpets or flooring? How about the color and style? Take note of improvements that up the value of the property.
When done, create a sketch of the property. This time, itemize the repairs and improvements you would like to see, down to the last square meter. This will help share your vision with your contractors.
Bonus tip: It’s never a bad idea for a fix and flip investor to have a lockbox and spare key on the property for whenever contractors visit. This will save you time since you won’t have to meet them each time they need to access the property.
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/