Rehab lenders ? Tips about rehabbing houses
Wednesday, November 16th, 2011
There are few important things which you need to keep in mind while rehabbing houses.
First and foremost, finding good rehab lenders who can fund you to purchase the property as well as give you the money to do the repairs.
True rehab lenders only care about your property while giving you rehab loans and they don’t ask the typical questions related to your bank history or job history.
Now when you’ll start doing the repairs, the most important thing to look is what the exterior of the home say?
If the exterior of the home says that I’m ugly, it’s probably going to be the assumption of the buyers that the inside of the house is ugly as well.
So many real estate investors think that they can get away by making the inside looks beautiful and leaving the outside not very desirable.
But the outside of the home has to be inviting.
You should have a reason for people to stop the car. So many people when they are looking at the properties, they are actually looking at them online and the first thing they are going to look at is the exterior of the house.
When they go to see the property with their real estate agent and if the exterior of your house isn’t good enough, then they’ll look outside and say, “I’m not really that excited about it. Just keep going to the next one.”
This happens all the time. I can’t tell you how often that happens. So, make sure that the exterior of the home is inviting and make sure that the buyers would like to come in.
You can also take some tips from your hard money lenders as they are experienced people.
Next, as soon as they walk in, you want to have some sizzle. You should have a reason for them to be excited.
Whether that could be the beautiful tile job done in the entry or whether that could be the plush carpets or whether that could be an entryway i.e. a beautiful decadent light fixture or a really nice knob on the door, which makes it really inviting and the front door looks great.
So, you want to have a reason for them to stay and then, it comes down to the things that most females are excited about, which is kitchen and bathrooms.
At the end of the day, it is going to come down to kitchen and bathroom. You want to make sure that your kitchen is in good condition. Its clean, remodeled and you have got rid all of the old stuff. Same thing goes with the bathrooms. Make sure that the bathroom is beautiful.
Kitchen and bathrooms are the places where you need to spend your money. You can go with one tone paint and everything else like that but I don’t recommend leaving old stuff.
Get rid of the old and put the new one in there and make it more successful.

