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6 Things to Consider When Executing an Investment Property Rehab in Columbia 29201, 29202, 29203, 29204, 29205, 29206, 29209, 29210, 29212, 29063, 29033, 29044, 29169, 29016, 29061, 29223, 29229, 29072, 29073,

If you’re thinking about doing property rehabs, this blog post will reveal 6 things to consider when executing an investment property rehab in Columbia – these could determine whether you succeed or struggle!

Rehabbing a property is a lot of fun. But there are pitfalls you’ll face as you acquire, rehab, and sell the property. If you’re not careful, these pitfalls could hurt your chances of a successful and profitable rehab! But we are here to help with 6 things to consider when executing an investment property rehab in Columbia…

6 things to consider when executing an investment property rehab in Columbia

#1. What Do Your Buyers Want?

It’s easy to get caught up in choosing colors and selecting countertops but the most important thing to remember is that you’re ultimately rehabbing to sell, so make sure you select colors and decorations that buyers want to pay for.

#2. Speed To Sale

Where a lot of rehabbers get off track is taking their time in different areas, perhaps only working a 6 hour day and then going home, or deciding to take the weekend to think about which countertop is the best one for the house. The sooner you sell, the sooner you make money. Period.

#3. Permits

Rehabbers need to work quickly to make money but municipal governments, who grant permits, do not tend to move very quickly. Should you keep working anyway? Should you wait until a permit comes through? We always advise that you remain compliant with local laws but this can be a challenge at times since cities can take a while to issue permits.

#4. Costs

Your budget, once realistically set, should be set in stone and every decision should be made with the budget in mind. One area that rehabbers get off track is in making many small decisions outside of the budget. Each decision on its own might not seem like a lot but those costs add up fast!

#5. Team

Some rehabbers choose to rehab properties themselves and others choose to use a team. A team adds costs to your budget but can get the rehab done quicker. But it’s more complicated than that because a team can also add scheduling challenges. If you want to have a successful rehab with a team, you need to master the skill of leadership.

#6. Marketing

The sooner you sell your rehabbed property, the better. Therefore, plan to do a lot of marketing regularly to get the most eyeballs possible on your property!

Summary

Planning to rehab a property? These are 6 things to consider when executing an investment property rehab in Columbia to ensure you stay on track and increase the likelihood of success.

We have several below-market properties that are perfect for rehabs. Want to see our ever-changing inventory? Click here now and fill out form or call our office at (803) 889-0840

 

Ben Lovro

Ben Lovro is an entrepreneur with a vision to improve neighborhoods and revitalize the communities that we live in. He has a clear passion for people and has developed effective strategies and real estate solutions in todays rapidly changing market. He is committed to being a lifelong student of Success Strategies and Leadership. Knowing what you want is perhaps the most important step in self-development; this takes much persistence and self examination. Once your desire to serve God overwhelms all other desires, you begin to step into your purpose and your mission in life changes. To be fulfilled in life you have to grow. The art of fulfillment is what develops our life into an expression for others to follow. Some of our greatest moments come from facing our fears and doing the things that scare us the most. You have been given one life, and one chance to tell your story. It's never too late to become the person that want to be.

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