Quick Tips on How to Minimize and Control the Cost of a Rehab Project

Purchase the general construction materials and supplies for your contractors and have it delivered to the job site.  Instead of having your contractors spend their time looking for material, do it yourself if you can.  It’s amazing how long a simple trip to Home Depot can turn into.

Property Rehab Written Scope of Work

Always put the scope of work in writing with enough detail to avoid conflicts and “misunderstandings” during the rehab of the property.  It’ amazing how crystal clear your vision of the finished product is during the walk  through with the contractor and then how any questions come up in the middle of the rehab.  Questions such as, “Oh, you wanted that wall knocked down?” or “You wanted more than two kitchen… Read the rest

House Fixing at its best in this series of unbelievable home repair projects.

I should have known better when the contractor from Good Ole’ Boy Engineering said, “We can Fix House to meet anyone’s budget! He wasn’t kidding.

Alternate ceiling fan connections.  Eliminates the need for for those expensive electricians.

Here’s what you can do with a little PVC pipe and a lot of couplings!

The ultimate in supply and return air efficiency!

Roof flashing not needed.  It must not rain in this part of the country.  Wait till you see the roof leak catch system installed in the attic.

Save money.  Just use use nail gun nails; they… Read the rest

Real Construction Budget Estimate

The numbers listed below are actual repair costs for a standard bank owned single family home. My partners and I have rehabbed over 50 homes together and we have never been able to achieve the cheap rehab costs as shown on Flip This House and other quick flip home shows. I do know that our costs are in line or less expensive than what other investors pay in our area.

Duration of Rehab = 25 days

Rented within 1.5 months

Cash Flow is $220 / per month with no money out of pocket

Real Rehab Repair Budget – 1,100 sq feet, 3bd, 1bath house

DRAW 1

Demo Garage
Demo garage & dispose debris
$2,500

Roof
Overall good condition, some repairs needed
$500

Gutters
New gutters
$1,000

Soffit & facia repairs
Repairs
$500

Foundation/concrete
Outside,side walkway,

… Read the rest

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Video of a deteriorated house fixing case