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Let’s get back to real estate investing basics for a minute here – what is your game plan when you purchase an investment property to rehab and sell? Are you just a wholesaler and looking to get into the bigger profit deals? If you aren’t sure exactly where to start, here is our simple 6 steps that we follow with each property we flip:
Step 1 - Demo
Step 2 - Repair and Replace Utilities
Step 3 - Repair Walls
Step 4 - Paint
Step 5 - Install
Step 6 - Finish Work
One super important way to follow these steps is sticking to your outlined plan that you created at the beginning and keeping a punch list of things you are working on. Following a schedule with your contractors is also key so you don’t have different groups working on top of each other.
Watch the full video here to see a walk-through of this Detroit Road property here:
Be Daring,
Josh
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