subject: Are You Made For Rehabbing Houses? [print this page] Rehabbing houses gives great returns to those who practice it correctly. Millionaires who made a fortune from this business are living proofs that it indeed is profitable. Youve seen how it works on TV and you believe it really is the way to make money, especially at a time that financially stability is of essence. The only issue now is if you are cut for this job. Here are some guides questions that will help you determine whether rehabbing houses indeed is for you.
Do you see a gem disguised as a rock? As a rehabber, you will generally work with dilapidated properties. These houses are known as fixer upper homes and fixer upper homes are basically a mess. You might find some that are probably in a decent condition but these are mostly houses that need repair. After all, theyre called fixer upper homes. If you cant stand being inside a distressed property because you feel that all homes that need repair should just be demolished and are hopeless, you are probably not meant for rehabbing houses.
Do you believe that construction sometimes requires destruction? If you can stand having to repair a distressed property, you must also be willing to destroy some of its parts. For instance, a wall needs to be torn down because it already has cracks and could pose danger to the prospective occupant. You must be willing to do this and not feel that you are wasting money because you are destroying something. Remember, you are repairing a home that will serve as shelter to its next owner. You wouldnt want to compromise their safety just to save a few dollars.
Do you know when to say No? Some rehabbers buy all kinds of properties they find as long as these are cheap. This is one philosophy you must not live by. You must learn to let pass properties that will make you save money today but cause your bankruptcy in the future. Take note, its not how cheap you buy fixer upper homes but how much you can sell them after repairs. You will not earn from buying a cheap property that needs a fortune to rehab. Learn to say No to properties that require structural repairs, or those that need major construction. Refrain from buying houses that need a total roof replacement.
If you answered yes on all three questions, you must try rehabbing houses. But before you start rehabbing houses; be sure to check out rehab-real-estate.com first. Learn about this business through the websites informative videos and articles.
by: Daniel Mc Grey
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