We can all buy cheap houses! Can we all rehab them for a profit? People say work smarter not harder so hire it out. For investors they are right to some regard. When it comes to your investment rehab it’s imperative that you choose your construction team wisely. Rehabs are labor intensive and your contractor or project manager is going to want a fee for his time and efforts and it’s up to you “The Investor” to qualify him. Here’s some questions to ask yourself and your potential manager.

Here’s a given.

“Your manager or contractor should have a fluent background of investment properties and a passion to provide the community with a quality home that increases the end buyers standard of living.”

“Your manager or contractor should have a residential builders license in the state you are operating in.”

This is very important….. Here’s why. PERMITS… This is your investment so playing by the rules provides smooth sailing. When a contractor or manager needs to pull a permit for a Certificate of Occupancy, roof,  general or structural repairs don’t pay extra to for a permit puller. Out sourcing this task can cost you time and money as well as loss of control of your project. Also, your permit puller would now have the right to lien your property. Here’s a quick example: You hire a licensed contractor to do your full rehab. You need a roof and your opening up a wall that requires an install of a structural header. Your contractor pulls a permit for both items and has guys at his disposal to tear off the roof, re-shingle it, and install the header membrane as needed. He then calls in the inspections. Done! Easy as that with no hidden expenses. Or….You hire an un-licensed contractor or manager and while he’s still trying to decide if a permit should be pulled he’s shopping prices and doing the demo. As this is all happening the city drives by and sees your dumpster and puts a stop work order on the window. Good luck finding your licensed contractor now and happy rehabbing.

“Your manager or contractor should have a system in place to cost EVERY SINGLE TASK that needs to be done in a home prior to you closing.”

This is for your protection. You need this data to justify the expectation of repairs and the features your property will offer in comparison to current ARV. Putting together a detailed list of tasks to be completed is the first step to a successful rehab.

“Your manager or contractor should be able to do every task in your project if needed.”

Is he or she is You tubing how to install a window? If so, your in for a treat. Picking colors is one thing and operating production crew is another. Having a full understanding of the whole construction process is a must. The manager should have a full scope of work for the subcontractors. Use FULL DETAILS. This will eliminate corners being cut and will provide the best bang for the buck. Subs should show up to work, not price it out. It costs money and time for the sub to drive to your property, price out your project, and make his own scope of work. Bottom line… your going to pay for that. Your manager should need to do minimal shopping for trades and workers. They should personally know how to do every project themselves. This gives them the qualification to oversee and participate in the project. I know we are all experts because we know an expert but your project manager should be your expert. Remember this is your investment.

“After completing a few hundred full rehabs here’s a tip for you.”

“There is always a corner for a sub or worker to cut that will save him time or money that  may go unseen unless your manager or contractor knows his stuff and is present.”

I could tell you at least 10 things that could be quality installed in front of an investor/contractor/manager using corner cutting techniques that wouldn’t be caught by the un-knowledgable. Don’t be a victim.

Enjoy “Turning Property to Profits”

Granted, there are many ways in which homeowners are able to remodel their living room, but in order to do so a couple issues needs to be resolved. For example, the problems with the current living or family room should be outlined in order to know what is wrong. After everyone in the family has had their input about what should be improved only then should the remodeling take place. But here are some important suggestions to take into consideration for remodeling the living room:

Add More Seating

Since the family room is the room which people are typically seating when they come into the house then it makes sense that more seating should be added to the room. Unless you have sufficient seating already there seems to always be room for improvement with this issue. One suggestion to take into consideration for home remodeling is to expand the walls of the living room in order to line them with more couches. After expanding the living room homeowners are able to take advantage of sectional couches to have more seating room.

Add Home Decor

Another cozy element to add to the living room during home remodeling is a fireplace and mantelpiece. The fireplace has long been a symbol of unity and warmth for the family, so what better place to add this then to the family room, or living room? Along with the fireplace, though, the mantelpiece is also something that should be thought about. There are all different sorts of materials and construction sets that one can buy which will make their fireplace stand out.

Add a Foyer

As mentioned, the living room is the first room that guests enter unless there is a foyer. While home remodeling, one suggestion to use is to add a foyer before the living room. This may change the dimensions of the living room slightly, but the foyer doesn’t have to be that big. There are many different dimensions that homeowners use for their foyer, but this is an excellent way to add style to your house for the guests that you have.

All of these home remodeling suggestions are great to take into consideration for the addition of a living room. Not only will they increase what your home is worth, but you will definitely be proud of what you have accomplished! There is no doubt, though, that remodeling the living room is definitely worth it!

• Beautify your home’s exterior and yard. Your place has to look a lot better than distressed properties, say experts quoted in Money. Have the house washed, paint the door, replace the knocker and hire a gardener to give your yard some class.

• Be friendly to first-time buyers. With the help of tax credits, first timers bought about half of all houses sold this year. The average age of these buyers is 30. Spread the word about your open house on Facebook and Twitter.

• Make a good presence online. Prospective buyers may be faced with thousands of choices. They often search on keywords, so describe your amenities with words like “deck,” “pool,” “granite countertops,” and “baths.”

• Take pictures of the inside with a wide-angle lens say experts at real estate site Trulia.com. Such pictures make the room look bigger.

• Set the price online at the lowest figure in your price range.  With the help of your real estate agent, check to see what comparable homes in your neighborhood have sold for. You will probably have to ask 10 percent to 15 percent less to get buyers to notice your listing.

The speedy deal is a big benefit for many buyers. Make sure your real estate agent lets buyers know you can close a deal in a few weeks. Bargain by paying part of the closing costs. Offer new appliances, or do whatever you can to make your deal seem like a bargain.