Considering rehabbing a house in San Antonio? Rehabbing can be lots of fun and a great way to generate income, but it may also be a massive hassle and expense if you don’t know what you are doing. In this informative article, we’re covering the 7 basic steps to take when investing in a rehab in San Antonio to help you get on track and stay on track for a successful rehab!
Rehabbing, according to the TV shows, is a great way to generate money. But what the people on those TV shows don’t show you is exactly how much work and challenge it can be, and also how badly things can go if you get off your plan and budget. To help you, here’s a list of 7 simple steps to consider when investing in a rehab in San Antonio to make sure you stay on track.
7 Basic Steps To Take When Investing In A Rehab In San Antonio
Note: The subsequent steps aren’t sequential but they have a tendency to overlap. That means, generally, you’ll probably start another step before finishing the previous step.
Step #1. Find
Begin by locating a great property that makes sense for you. Expect to look at a lot of properties, to make a short-list of several, then to make offers on a few in order to get one.
Step #2. Plan
After you have found a home that seems to make sense, construct a plan and a budget to ensure you’ve got enough time, money, and team that will assist you.
Step #3. Acquire
Purchase the property. This can occur in a few different ways, depending on how you want to structure your deal. Ultimately you need to get the property under your control so that you may go in and begin to work.
Step #4. Demo
Safely demo the property by tearing out anything that you don’t want in the house. This often includes removing old carpeting, damaged cabinets, and garbage.
Step #5. Fix
Quickly and efficiently rehab the property. This may be a difficult step when you have several teams working at the same time but the sooner you do this, the better. Stay safe, though!
Step #6. Prep
Once the property’s fixed up, you need to get it ready to sell, but to help you sell it you’ll need to get it ready. That means: give it a thorough cleaning, walk throughout the house to ensure everything is done (even a missing light switch can impact the sale) and planting flowers to make the home look nice on the outside, too.
Step #7. Sell
Market the house aggressively to get as many prospective buyers as you can to check out your house. The more buyers walking through your property, the quicker you can sell it at a higher price.
There You have it! A simple list of the 7 basic steps to take when investing in a rehab in San Antonio to make sure that you quickly and efficiently complete your rehab and make money from it.