OfflineI feel it is important to know how to advertise and rank your repairs. I put them in two categories minor repairs and rehab. My minor repairs start at $0 to $4,000 and rehab starts at $4,000 on up. This lets people know how bad the conditions of the home. My minor repairs are new carpet, walls painted, and little items replaced. My rehabs are adding on to the home, pipes replaced, new wiring, and new roof. Once I feel that my own estimate is correct I call my local sub-contractors or Lowes and get at less 3 bids on my property so I can back up my findings. Now i am prepared for my buyers.
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Thanks for the info.
So over 4,000 would qualify the deal as a rehab. Under 4,000 would make it just "freshening up".
Thanks!
RENinja
"Remember, success is a journey, not a destination.
Have faith in your ability."
Bruce Lee
How about Rental repairs and Flip repairs?
It seams to me every house that will be a wholesale would rank in the
Rehab!
New windows alone would put you in the Rehab repair list.
Jay C
Jay C
That is at least a good guideline for us investors. Please fill out your bio, so others can network with you.
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
This is great information so far.
If you are just getting started, I would always get 2-3 bids just to get a feel for the flow of the bidding process. Everyone has their own process which is good but I always wanted to make sure I was at least close with my initial bid. After 5-6 properties I got really good and now I don’t look back unless I have a property that is in real bad shape. I still have my crew take a look at because two sets of eyes are better than one. You have to build your confidence before you will start to excel at this stage of your business. The more offers and properties you view will help a lot.
Happy Bidding!!
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