Are you interested in rehabbing properties for profit? If so then this blog post will help you know what to do, what not to do, and will give you 4 deadly reasons not to over do it on rehabs (because it will cost you a lot of money and headaches if you do)…
There are a lot of rehabbing shows on TV, and they can be pretty entertaining to watch. Unfortunately, too many people see rehabs as an easy and fun way to get rich quick, which rehabs are most definitely not! Yes, it is possible to make good money on rehabs but it’s also possible to overdo it and end up losing money. Here are 4 deadly reasons not to over do it on rehabs.
4 Deadly Reasons Not To Over Do It On Rehabs
Reason #1. Your Budget Can Easily Go Out The Window
On a rehab, you set a budget of money and time – how much money you want to spend and how much time you plan to spend it in. Unfortunately, it’s very easy for that budget to go out the window and you may end up spending more money and more time than you intended.
This can happen for any number of reasons but it especially happens when you over do it because even simple additions to your plan can increase the money or time you need to spend.
Reason #2. People Will Change It Anyway
Buyers want a house they can move into right away. And some buyers might want a house that is done up really nicely, although most buyers are looking for something plain that they can add their own personality to.
In fact, some buyers may even change the décor as soon as they move in, so your expensive and fancy paint job or cupboard doors might end up being covered over! Just stick with plain and neutral decoration to stay in budget.
Reason #3. Money Is Only Made When You Sell
One of the most overlooked reasons for why you shouldn’t over do it in your rehab is because you only make money when you sell. The longer you are on the property working, the longer you delay your income.
You need to put together a straightforward plan, get in there, do the work, and then get the house sold ASAP. Overdoing it will only delay you.
Reason #4. You Are In The Rehab Business
You are in the rehab business, not the home decoration business. Your job is not to shock people with how beautiful the house is or how good your taste is in paint; rather, your job is to create a nice house that someone will want to pay you for. Period.
Summary
It’s easy to go overboard and do too much on rehabs but if you follow these 4 deadly reasons not to over do it on rehabs then it should help you make more money and keep more of that money as profit.
If you’re looking for off-market properties at an attractive price or even just a great introduction to someone who can help you on this rehab, or Click here to contact Kevin Polite or call our office at 404-299-7100
Kevin Polite, Solid Source Realty, Inc.
Like this:
Like Loading...
Related
Published by
Decatur Real Estate For Sale 30030 and 30032
ABOUT
Kevin Polite is a Solid Source Realty, Inc. Realtor and the exclusive agent for HausZwei Homes. He specializes in Decatur 30032 and Decatur 30030 including the neighborhoods of Midway Woods, Belvedere Park, White Oak Hills and Meadowbrook Acres. He is also very active in East Atlanta and Atlanta homes in the fast appreciating areas of West End and Westside Trail along the Atlanta Beltline. You will receive personal attention throughout your transactionas he guides you through the home buying or selling process.Call Kevin Today and find out why so many consider him the best agent they have ever worked with.
HausZwei Homes refreshes and re-energizes homes for resale and for rent mainly in the Decatur area including Meadowbrook Acres, Greater Towers, Belvedere Park, White Oak Hills, East Lake, East Lake Terrace and Midway Woods. We have future projects slated for East Atlanta, Sylvan Hills, the Cascade area and along the Westside Trail along the Atlanta Beltline. You won’t find beige and boring in our homes. We maintain the traditional 1950’s ranch style of the home, but add a clean, modern and up-to-date touch to them. We love brick homes and are not afraid of adding color to them. Our kitchens feature European designed IKEA cabinets. You’ll notice the attention to detail in both our homes for sale and our homes for rent. Many of homes are a short drive away from Downtown Decatur and its many shops and restaurants. Others are close to East Atlanta Village. We will soon start our remodels in Sylvan Hills, the Cascade area and Atlanta homes in the fast appreciating areas of West End and Westside Trail along the Atlanta Beltline.
We give back to the community. We are an active sponsor of Friends of Dearborn Park, a DeKalb park located in Midway Woods in Decatur. We support teachers at Peachcrest Elementary School. We have donated time and money to Towers Action Group (TAG). There are many dogs that need adopting and DeKalb Animal Services is busting at the seams with pets that need a loving home.
For more information on these groups go to www.facebook.com/FriendsofDearbornPark and www.facebook.com/TowersActionGroup and dekalbanimalservices.com/adopt-a-pet/dogs-for-adoption
1
This is taken from our trip to Palm Springs during a moped tour of Mid Century Modern homes.
2
Our first remodel that started it all. Loved it so much I live in it.
cropped
From my Atlanta Journal-Constitution Real Estate Advertising days. Remember the Sunday Homefinder.
4
This is my Ralphie. This 112lb lovable Black Lab mix pretty much runs the family. We adopted Ralphie from Lifeline. There are many dogs that need a loving home. http://dekalbanimalservices.com/adopt-a-pet/dogs-for-adoption
5
GladysKravitz is typical of the nosy neighbor who’ll wonder how you sold your home so fast!
buyer
Kevin Polite will help you find that Mid Century Modern Home
6
Dearborn Park is located in Decatur in the Midway Woods neighborhood. I live in and have sold many homes in this neighborhood.
7
HasuZwei Homes gives back to the community. Dearborn Park tree planting in which we donated all of the trees, shrubs and materials. See more photos at www.facebook.com/friendsofdearbornpark
8
More volunteer work. This is with Towers Action Group (TAG). We donated paint to help this business on Memorial Drive in the Meadowbrook Acres and Belvedere Park neighborhood. www.facebook.com/TowersActionGroup/
9
This is a photo from Mrs. Hines class at Peachcrest Elementary in the DeKalb County School District in Decatur 30032. HausZwei Homes donated money so that the kids in her 2nd grade would have materials for their art project. We believe strongly in support the art in education.
10
Many of the homes we sell in Decatur, GA are near Downtown Decatur.
1112
East Atlanta is a hot area with tons of activity in the Village (EAV) including the annual East Atlanta Beer Fest.
13
The Beautiful Restaurant in Cascade Atlanta has been serving great food for many years. It’s one of the many attractions in the Cascade area.
14
Busy Bee Café on MLK Dr. is another fixture in Westside Atlanta. Their Fried chicken has been featured on many Food Network shows. Shown here is their collard greens, black eyed peas, mac n cheese all washed down w the uptown (half lemonade half sweet tea) woo wee. I won’t say which of the two ‘tween Busy Bee and The Beautiful is my favorite. It’s too much fun deciding which.
15
Even Bernie Sanders loves him some Busy Bee southern cookin’ Soul Food.
1617
Sylvan Hills has many Craftsmen homes and Sylvan Middle School is widely respected and the teachers go the extra mile.
18
Westside Atlanta Beltline. Are you looking for a home near the Beltine? There is a program available to help you down payment assistance. Please call me Kevin Polite, 404-299-7100 for more information.
19
Did you inherit a home, about to go into foreclosure or have a home that just wouldn’t be profitable if you sold it with a real estate agent? Being a REALTOR®I understand both side of the equation. We have partnered with and recommend the following if you are in one of these situations:
WWW.WEBUYHOUSESINDECATUR.COM
WWW.SYLVANHILLS.CASH
WWW.WEBUYHOUSESCASCADEATLANTA.COM
View all posts by Decatur Real Estate For Sale 30030 and 30032
