Rehabbing Homes For The Highest Profit
Details
How you renovate a home makes all the difference.
Most people(incorrectly) think that the goal of a flip is to make the home as nice as possible. While this can be fun, it is typically not the most profitable.
There are many variables to consider that we will be discussing in detail inccluding:
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What type of renovation the area warrants - each neighborhood is different and you don't want to over-renovate or under-renovate any specific area.
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What the market is like - in a sellers market where prices are high, buyers may prefer a lower price with less of a renovation and when it is a buyer's market you may need to pull out all the stops.
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What type of project you should do for a multi family - should you condo convert or leave it as a multi family - what is highest and best use
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The different kinds of contractors that you should consider hiring - whether you hire a general contractor, sub out the job yourself, etc.
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What type of work yields the highest return on investment(baths versus kitchens, exterior work, systems and more
Food will be served!