Immediate Changes To Make In Your REO's!
4:26 AM
Taking the first step, they say, is always the heaviest. Once off the ground however, the progress should be rapid and well planned. In the home rehabbing business, this seems to be common difficulty. Many times the most glaring issue that is wrong with a home is not easily discovered. Rehabbing houses could be a headache if you don't know where to start. To assist you in discovering your best plan of attack I have included a brief list of typical issues you may want to address first.
Finding a good place to start will help you keep your rehab project proceeding in the right direction. Just to help you get started on developing your own rehab manifest, here is a short list of places you may consider starting from.
First thing you should do is create a time-line for repairs. If you have a contractor, consult him and set a deadline for repairs. Can you get this or that done is a set period of time? Ten to twelve days? After you establish these time lines then you can work hard to meet that deadline and continue through each one.
Now, it is time for the demolition. This is the stage where you clean the property. This can be as extensive as removing a wall or completely gutting a kitchen. This can be as simple as carpets and padding to removing lathe and plaster. You may even want to update the furnace or air conditioner. If these are still working, you can sell them to surplus shops or neighbors. The money can always go toward something in your own project. If the old paint needs to be scraped, then it will go as well.
Next you can address more important facets. Remember, rehabbing houses means you are operating with a tight budget. That means you must prioritize repairs that will eat up most of your money. Always remember to pull building permits while fixing anything structural. Then you take care of the superficial things. Structural repairs can be anything that is directly tied to the structure or support of the home and doesn't necessarily remain visible after completion.
It is also important to make any changes to the ventilation system in your next steps. Plumbing and electrical systems must be updated if necessary. Cosmetic repairs or beautifying improvements will follow. Making any changes to lights, wall materials, paint or siding can be included on your list of cosmetic items to do.
Finding a good place to start will help you keep your rehab project proceeding in the right direction. Just to help you get started on developing your own rehab manifest, here is a short list of places you may consider starting from.
First thing you should do is create a time-line for repairs. If you have a contractor, consult him and set a deadline for repairs. Can you get this or that done is a set period of time? Ten to twelve days? After you establish these time lines then you can work hard to meet that deadline and continue through each one.
Now, it is time for the demolition. This is the stage where you clean the property. This can be as extensive as removing a wall or completely gutting a kitchen. This can be as simple as carpets and padding to removing lathe and plaster. You may even want to update the furnace or air conditioner. If these are still working, you can sell them to surplus shops or neighbors. The money can always go toward something in your own project. If the old paint needs to be scraped, then it will go as well.
Next you can address more important facets. Remember, rehabbing houses means you are operating with a tight budget. That means you must prioritize repairs that will eat up most of your money. Always remember to pull building permits while fixing anything structural. Then you take care of the superficial things. Structural repairs can be anything that is directly tied to the structure or support of the home and doesn't necessarily remain visible after completion.
It is also important to make any changes to the ventilation system in your next steps. Plumbing and electrical systems must be updated if necessary. Cosmetic repairs or beautifying improvements will follow. Making any changes to lights, wall materials, paint or siding can be included on your list of cosmetic items to do.
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