Do Not Cost Yourself Money

Many investors try to avoid paying service providers for many of the repairs required in rehab or rental properties.  Ultimately, this can end up costing them more money in the long run.   Electricians, plumbers and HVAC technicians are examples of trade people that have significant training, and in many instances, certifications or licenses.  It is worth spending the extra money for their expertise.

The attached article gives good advice on what should be done by a specialist, and what can be done by the investor. What do you think?

Renovations you should — and shouldn’t — do yourself

 

ReCasa Financial Group’s Deal of the Quarter Winner!

Real Estate Investor Learns Lessons Early

You make your money when you buy the property! 

To insure that you make money when flipping a property you must be diligent in searching for the right property that has the appropriate financial metrics that show you can make money.  This can be time consuming and frustrating!  You may experience many property visits and offers before you get one at a price that will make it successful for you.   A relationship with a realtor that specializes in investor properties is priceless.

Additionally, you must be hands on with rehab projects.  This does not mean you must do the work, but it is imperative that you are at the property daily, or at least several times a week to make sure work is being completed in a timely manner and the quality of work meets your standard.   Delays in work cost you money!  Shoddy work costs you money!

NO ONE CARES ABOUT YOUR MONEY LIKE YOU DO!

Real estate investor learns lessons early on flipping properties successfully

Always Pay Contractors When the Job is Finished

At ReCasa Financial Group, we always advise our clients to never pay contractors money before work is completed, even if you have worked with the contractors before.  If they need materials to get started and cannot afford to buy them up front, that should be a big red flag. Have you made this common mistake before?

What is Your Secret to Getting Your Property to Sell?

As an investor, what is the most outrageous thing you have done to help your property sell?

Read this article to see what these people did, then tell us what you have done.

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