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”

1. Research the area of the home that you plan to flip. A diamond house in a bad neighborhood is like coal. A high class rental is great for cash flow but not if you want to flip for a profit. You should know your streets in the surrounding area. That’s where your comps are coming from, so don’t grab the cheapest house in a rental market and think you will successfully retail flip it. Look at the school districts, parks, and public amenities. Take the time to look at the bank owned and owner occupied houses that are currently on the market to see what others are asking and what they are offering for the money. Also look at the recent sales and compare to the asking prices and again know what that buyer got for the money. Your goal is to offer the retail buyer the best house in the neighborhood for the best price. Purchase the correct house and create high returns for your private investors and huge profits for you.

2. You need to know your buyers demographics from as many aspects as possible. What are the age groups and income levels in the area. What kind of lifestyles do they live. Knowing what the expectation is before you purchase will give you a good idea if the house you have in mind can meet the highest requirements.

3. Have your contractor by your side to assist you with your rehab budget before your purchase. Your contractor should have strong relationships with every individual who would step foot on your job and should be able to give you accurate price projection from every aspect. You should have a good idea of what materials your going use and what projects your going to and not do. Have a controlled itemized budget before you start any work. Your rehab can make or break the deal.

4. Don’t cut corners on your rehab. If you want to secure your investment capital you have to do the job right. Expect to put materials that are above the standard for the area. Every aspect of your retail flip should be new or refinished. Investors and their contractors tend to leave out the small details to save a buck. Your goal is to flip not hold so pay attention to the minor details. It will pay off.

5. When listing your retail flip hire a broker that works directly in that area so he or she knows that your house is the leader in the community in that price point and will present it that way to the buyers agents. It’s a good idea to hire a broker that understands your position in this deal and the importance of your business. Make sure your broker follows up with buyers agents and produces feedback to you after every showing. Set your expectations high with your listing broker.

6. Have your exit strategy numbers in a spreadsheet so when an offer comes in you’ll know exactly how much you will make based on the offer and all costs to close.

7. After excepting an offer. Take the time to review and research the buyer’s ability to close the deal. Your broker should have this under control but remember your private money is at risk so don’t skip this step. You could lose the deal and waste time.

The landscaping tip that everyone can learn from is to always make your yard one that will look great at any time of the year. This can be tricky because in the middle of winter many things do not look so hot. This is why it is so important to learn about the kinds of plants and trees that will still bring beauty to your home in the depth or winter and in the summer heat.

To find the plants that will make this landscaping tip work will require you to do a little more work. You will have to find out what plants will thrive in your climate all year round. Of course some will do better during certain months but you need to always have something going on that is attractive in your yard. The best place for you to find out the best plants for this landscaping tip is your local garden center. They are the experts and they should be able to answer all of your questions about what your choices in plants and trees should be. If this does not work for you then take a trip to the library and check out some books on local flowers and trees. These can be gold when you are trying to choose just the right things for your yard.

Another good landscaping tip is to layer all of your planting beds. This will bring a sense of unity and balance to your entire yard. To get this particular landscaping tip working at its best you should also use repetition in this design. Have these layers repeated throughout the yard and it will look that much better to those walking by.

However, most homeowners enjoy the time that they spend remodeling their kitchens. One of the most common additions that individual homeowners make when remodeling their kitchen is new cabinets. There are so many options to use when adding new cabinets. The first choice is to build completely brand new cabinets to use for storage. If the current cabinets are sufficient then you may only need to do a cabinet makeover, which means simply adding a fresh coat of paint to them.

If you are a homeowner and you do decide to construct new cabinets in the kitchen then there are also a couple other options. First, consider whether or not you truly need to hire a contractor to do the job. You may be able to complete new kitchen cabinets as a do-it-yourself project, which would save money in the long run.

Re-doing the Floors

The floor is another big project to take on, and this is another possible do-it-yourself remodeling project for the kitchen. Unless you are in a big hurry to complete the floors in the kitchen, many people find that it is an enjoyable time when they re-do their kitchen floors by themselves. There are many people who decide to tile the kitchen floors; however, laminate floors are a definite option too. There are several laminate floors that are great for kitchens and some of them will even make it look nice and attractive for potential home buyers.

Scrapping the Entire Kitchen

Of course, many people consider what would be ideal when remodeling their kitchen. Remodeling any room in the house is a big project to undertake anyway, so there are some individuals who just decide to go completely out on a limb and structurally change the way their kitchen is set up. This does mean that you will probably be without your kitchen for a day or two, but the wait will definitely be worth it. If your kitchen is currently a plain old kitchen that needs plenty of updates then consider expanding and re-doing the whole thing.

Changes may be needed if you are going to switch appliances around, but some of the possibilities of this type of remodeling project include adding a built-in stove, adding and building an island to store pots and pans (which can also double as a chef’s work place), as well as making more storage room and expanding the countertops and counter-space. All of these things will not only literally bring your kitchen to life, but they’ll add an excellent value to your home that you’ve never had before!

Before you familiarize yourself with what you should do if you find mold in your bathroom, it is important to examine what mold is. Mold is scientifically described as being a microscopic fungus.  This fungus not only looks unattractive, but it can be dangerous.  While some types of mold are considered relatively harmless, there are other types of mold that are considered toxic.  Unfortunately, due to the moisture that can be found inside most bathrooms, black, toxic mold can be found in thousands of bathrooms in the United States.  If you start to remodel your bathroom and you find mold under your toilet or even under you floor tiles, there is a good chance that you may have black mold on your hands.

As previously mentioned, black mold is often defined as being a toxic mold. This is because it is one of the most dangerous types of all molds.  In addition to having respiratory problems, you may develop headaches, skin rashes, fevers, and other flu-like symptoms.  Although your first impulse may be to remove the mold yourself, you may want to rethink your decision to do so.  When mold is improperly removed, mold spores can spread throughout the rest of your home. That is why it may be good to call upon a professional.  That professional will likely be a mold removal specialist or an air quality control specialist. 

Although it can be quite expensive to have your mold tested and removed, you will want to do so.  If your mold is not taken care of, professionally, it can begin to spread and even move into other parts of your home. Once you have had all of your mold removed from your bathroom, no matter what type of mold it is, you will want to take steps to prevent another mold outbreak from occurring in the future. You can easily do this by incorporating a few extra projects into your bathroom remodeling plan.  It may be a good idea to make sure that your bathroom has a fan installed in it. 

If you do not already have a bathroom fan installed in your bathroom, you will want to get one right away. It has been noted that working bathroom fans help to eliminate the moisture that mold, particularly black mold, thrives off of. No matter what type of bathroom fan you would like to purchase, whether it be a traditional bathroom fan or a decorative one, you should be able to find whatever you are looking for online or at one of your local home improvement stores.

Regardless of where you purchase a bathroom fan from, you are advised to purchase one, even if you don’t already have a mold problem.  Bathroom remodeling projects, even relatively small projects, can get quite costly. For that reasons, you will want to make sure that you do everything to protect your newly remodeled bathroom from being attacked by mold 

There may be many additions that you’d like to make, but it may simply not be feasible. If this is the case then you may also be shortcuts that one could take in order to finish the jobs that he or she wants to do. For example, if the remodeling project that they want to do is finishing the basement then it may be entirely possible to do it yourself instead of relying on a home contractor.

Leave Large Jobs to Professionals

However, finishing the basement can be quite a large job to take over and not everyone may be up to the challenge. Big remodeling jobs like this should be left up to someone else, which is why hiring a remodeling contractor is a great idea! Contractors will not only be able to help you clarify what you want to see happen to your home much better than you could possibly express, but these are the ones who will be responsible for actually making it happen and making your dreams for the house that you’re living in come true!

The Work Will Get Done!

Another reason why hiring home remodeling professionals is a good idea, though, is to make sure that the work actually gets done. If you have undertaken the job of finishing the basement several years ago and haven’t quite gotten around to completing the remodeling project then you may never finish the job. On the other hand, home contractors will be at the job site every day until the home remodeling job gets done. Furthermore, as the homeowner you are essentially the boss of everyone who works for the home contracting team. There may be one central person that you talk to during the entire project, but your main task is to oversee the entire remodeling project. In this way homeowners are able to make sure that nothing is done without their approval and that things are being done right!

Home remodeling contractors are definitely the best way to complete a project one time and have it get done quickly and efficiently. They may not be the most cost-efficient way to get things done; however, homeowners are usually pleased with the work that is able to get accomplished. As mentioned, individual homeowners may like to do things themselves, but they may actually be spending more money in the long run if they run into trouble or snags while remodeling their houses all by themselves. A contractor is not only a good way to ensure quality service is performed, but home contractors and remodelers are great tools to use when you need them the most!

Do You Have Enough Space?

A small home can be perfect for a single person to live in; however, having a family changes the whole argument for whether or not you should engage in remodeling. One of the important things, though, to think about is the current housing market. How many bathrooms does the average house have? How many bedrooms does each have? Are there any extra rooms in the average house around your area? For the average family having one bathroom just is not enough. However, if most of the houses around yours do have one bathroom also then you may consider adding an extra bathroom or two just to make your house stand out among the rest. This will also get you more value for your home when you decide to sell as well.

Wall Cracks and Deficiencies

One of the ways to tell whether or not you need to remodel your home is through the walls. For example, if the drywall of your house is cracked and it looks as if the whole wall is about to cave in then that definitely is a good way to tell whether or not you should be remodeling. Of course, the structure of the walls inside houses usually should not break down for a long time, which means that the only thing that may need to be done is to add fresh coats of paint.

Efficiency

When trying to decide whether or not you should be remodeling your house a very important issue to think about is efficiency. What about the cabinets under the kitchen sink? Are there some that are not being used? What about adding a dishwasher to your kitchen, as well as a garbage disposal? In current homes in today’s market two things that are almost always present are a dishwasher as well as a garbage disposal. If your house isn’t updated to meet the demands of the current housing market then it may be time to remodel your house in order for it to compete on the market. In addition, these types of home remodeling projects can also help you determine the worth of your home if you ever have a need for a home equity loan.

The most important thing to consider, though, is whether or not you and your family would be happy with the remodeling projects that could potentially be done. Most people would delight in the changes that are to take place, but making sure everyone is happy with the renovations is more important! Nevertheless, though, keeping up with the telltale signs that your house needs remodeled is very important to having a healthy and beautiful home!

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.