4 Reason Not to Over Do Your Rehabs

4 Reason Not to Over Do Your Rehabs


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4 Reasons Not To Over Do Your Rehabs

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  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… Definitely not real world!! 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 reasons not to over do it on rehabs.

4 Deadly Reasons Not To Over Do It On Rehabs

Reason #1. Your Budget Can Easily Get Out Of Comtrol

time is money Reasons Not To Over Do It On RehabsOn 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 (most of them unforeseen) 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. They want a house that is done up really nicely. But you can bet they will change things to suit their own personal tastes after they move in.

So your expensive bling just might end up being covered over! Just stick with plain and neutral decoration to stay in budget, just be sure you fix any and all know issues with the property. That usually costs you plenty..

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 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, click here now and fill out form or call our office at (615) 310-1909

 

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