Most properties you purchase as an investment will require some level of rehab – sometimes a little and sometimes a lot. Your specific rehab plans and allotted budget should be designed to increase the value and profitability of the investment property based on your exit strategy. Are you going to wholesale the property? Will you do a lease option? Are you going to keep the property as a long-term or vacation rental? Do you plan to fix it and then sell it to a retail buyer? Whatever your exit strategy, you should plan and budget your rehab accordingly.
SMART Rehabbing provides 7 STEPS with systems and processes so you can rehab with confidence. Our focus is to teach you how to increase the value and profitability of your investment properties and minimize your risk when rehabbing, no matter the exit strategy you choose to implement.
STEP 1: Preparing to Rehab
STEP 2: Detailed Scope of Work
STEP 3: Hiring Your Contractors
STEP 4: Completing Critical Paperwork
STEP 5: Managing Your Rehab Project
STEP 6: Punch List & Preparing to Sell or Rent
STEP 7: Getting to The Finish Line!