7 Stages to a Real Estate Rehab: Step 6 – Manage the Rehab
October 14, 2020
When in the trenches of the actual rehab, you will encounter five different (but important) stages:
Demolition and trash cleanup: Removal of damaged items (walls, floors, toilets, piping, etc). Outside cleanup would include dead trees, bushes, fences, decks, etc.
Foundation and framing issues: This stage takes care of the skeleton of the house.
HVAC, plumbing, electricity: Building inspectors come in after this stage to check if installations are done right.
Insulation: Remember to start insulation only after the electricity and plumbing inspection is done. Depending on where you are, another inspection is due to see if you have properly obscured any wiring, piping, and ducting.
Trimming and painting: trim work followed by painting is part of the last stages in your rehabbing. You will now begin to see your vision come to life.
Walk-Through Inspection & Final Payment
No matter how meticulous you are, or how much you trust your contractor, there will be a few things that go unnoticed. To provide for this, it’s necessary to conduct a second walkthrough of the property, after all, initial inspections have been completed.
Make sure the contractor delivered everything listed on the contracts. Also, don’t forget that final inspections need to be done to finalize your building permits. (Budget time for this.)
When you find the project satisfactory, draw up the Final Waiver of Lien to be signed by the contractor. Promptly deliver the final payment for a job well done (and lay the groundwork for a future working relationship).
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/