Planning for the Unexpected

As real estate investors, rehabbing your investment property could be as simple as updating the fixtures to as demanding as drywalling and replacing flooring. When planning the list of improvements for the property, do you plan for the unexpected? In unexpected situations, a real estate investor needs to be prepared for additional costs and time.

At ReCasa Financial Group, we encourage all our borrowers to have cash reserves available while rehabbing for any unexpected situations and any budget overages. With liquid reserves, borrowers are able to access funds immediately without having to increase the loan amount. This allows for the rehab project to continue without delay and saves the borrower money in the long run.

What are your experiences with unexpected budget shortfalls when it comes to rehab investing?