We’ve discussed subjects such as when you should and should not start your rehab, how to save money on your next rehab, and important keys to being successful in real estate investing, but we have yet to discuss what you should NOT be doing when rehabbing your next property. This can be especially helpful for newer investors and those just starting out in the business to know, so they can be successful within their first few rehab projects, make a good profit, and continue to grow within their business. This week, Sean discusses three things that he believes you should not be doing or wasting your time or money on in a rehabilitation project and the reasons behind these three things.
Before getting under contract on your next rehab, make sure to go through the property and put together a scope of work of what work you think needs to be done. Once this is complete, go through the scope of work again and see where you can save some money and what things may not absolutely need to be completed to make the rehab profitable! If you need any help or an opinion on your scope of work and what should and shouldn’t be done, reach out to us! We are happy to take a quick peek through the property and your scope of work and give you our advice on whether or not you have included everything or where you could be saving some potential dollars. Be sure to also check out our website at http://www.pinefinanicalgroup.com to see what loan products we can offer you for your next rehab project!