7 Steps To Take When Investing in a Rehab in Houston

Thinking about Investing in a Rehab in Houston? Rehabbing can be a lot of fun and a great way to make money but it can also be a huge hassle and expense if you don’t know what you’re doing. In this blog post, we’re sharing the 7 steps to take when investing in a rehab in Houston to help you get on track and stay on track for a successful rehab!

Investing in a Rehab in Houston

According to the TV shows, a fix and flip is a great way to make money. But what those TV shows don’t reveal is just how much work and challenge it can be, and how badly things can go if you move off your plan and budget. To help you, here’s a checklist of 7 steps to take when investing in a rehab in Houston to ensure you stay on track.

7 Steps To Take When Investing In A Rehab In Houston

 Note: The following steps are not sequential but they tend to overlap. That means, in most cases, you’ll probably start the next step before the finish he last step.

Step #1. Find

Start by finding a great property that makes sense for you. Expect to look at many properties, to create a short-list of a several, and then to make offers on a few in order to get one.

Step #2. Plan

Once you’ve found a property that seems to make sense, build a plan and a budget to make sure you have the time, money, and team to help you.

Step #3. Acquire

Acquire the property. (Lennox Home Buyers can help with this step if your in the greater Houston area). This can happen 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 you can go in and start to work.

Step #4. Demo

Safely demo the property by tearing out anything that you don’t want in the property. This often includes removing old carpets, damaged cabinets, and trash.

Step #5. Fix

Quickly and efficiently fix up the property. This can be a challenging step if you have a lot of teams working at the same time but the sooner you get this done, the better. Stay safe, though!

Step #6. Prep

Once the property is fixed up, you need to get ready to sell it but to help you sell it you need to get it ready. That means: give it a thorough cleaning, walk through the house to make sure everything is done (even a missing light-switch can impact the sale) and planting flowers to make the house look nice on the outside.

Step #7. Sell

Market the property aggressively to get as many potential buyers as possible to look at your house. The more buyers walking through your property, the faster you can sell at a higher price. Maybe contact your local Houston Realtor if you need help selling your property, but remember this will cut into your profits, so make sure you know your numbers. You can contact us as well to be set up with a investor friendly realtor if you need one.

Summary

There you have it! A simple checklist of the 7 steps to take when investing in a rehab in Houston to ensure that you quickly and efficiently complete your rehab and make money off of it.

If you want additional insight about rehabbing, or if you’re looking for some great introductions to rehab experts, or even if you want to find a rehab property, Fill out the form below or call our office at (713) 955-9766

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