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11 Best Ways to Rehab a Flippable Property

Who says a book cannot be judged by its cover? In the world of flipping it's all about the cover and the content. Here are the 7 best ways to rehab a flippable property.

So You Want to Remodel a Property to Flip?

1] Curb Appeal

How many times have you heard that you shouldn't judge a book by its cover? People always judge you by your appearance, don't they? Anyone who is going for a job interview has to dress their best. You put up your best foot on a first date. Which bride have you seen who is lousy on her wedding day? By the same token, curb appeal is extremely important in the rehab business. First impressions count; they mean a lot. So, make sure the front yard, the roof, the eaves, the windows, and everything the end-buyers see first sparkles.

 

2] The Windows

Windows are one of the first items the end buyer will see. You can't say you have done a good remodel yet the windows are not dual-pane, are shabby-looking, dirty, or worse, broken. Make sure the windows stand out.

3] Open Floor Plan

Consumers love open floor plans. How is yours? Gone are the days when kitchens were hidden away from the living area. In some parts of the world, a kitchen is a place that's dirty, smoky, slimy, and oily and is often secluded from the living room, family room, and even the dining room. Not in America, and not in modern times. Kitchens are very much an integral part of the home. Seeing a great kitchen the moment you walk in can be the absolute deal-maker.

 

 

 

 

 

4] The Kitchen

Nowadays, kitchens constitute the primary component in the decision-making process. And you must do whatever it takes to make yours breathtaking no matter where the property is located, no matter the social status of the buyer. Low and moderate-income people also have taste and love good things in life. Make your kitchen stand out. Have a discussion with our interior design tribe members. 

 

5] The Bathrooms

Next to the kitchen in the decision-making hierarchy are the bathrooms. You must upgrade them and make sure you do a great job at that. If you need to open up a wall or install a dual vanity, go for it. Consult with our design gurus. They would be delighted to assist you with what you need.

 

 

6] The Color Scheme

Don't go wild with colors. Be neutral. Be soft. Watch what's hot in your area. Attend open houses and see what realtors are selling. Ask them questions. Ask rehabbers in your area what's working these days. Visit new construction in your area; look at their model homes and emulate their color schemes. Watch HGTV for hot ideas. And, of course, you can always count on our in-house interior design experts. 

7] The Floor

As in the case with the other items, make your floor stand out. If possible, make it neutral and run the same material throughout the house. Water-proof laminate is popular these days. Unless what you are rehabbing is super high-end, go with the trends. Go for waterproof laminate throughout the house.

 

 

 

 

 

8] The Lighting

Light there be light and there was light. What good is a house with an open floor plan and all the upgrades if the house doesn't shine and showcase its full glory? It's imperative that you plan this out thoughtfully. Recessed lights in the living area, kitchen, and dining area are a must. If you can install them throughout the house without hurting your budget or going outside the scope of our ARV formula then go for it. Otherwise,  the bedrooms and bathrooms are good without recessed lighting. 

 

9] The Backyard and Fences

To do or not to do? Making the backyard sparkle is not as critical as making the front yard sparkle, especially if the backyard is huge and the next owner may have different ideas. Maybe they'd like a pool or an ADU. You don't want to spend a ton of money now only for them to start doing something else as soon as they move in. If you secure a buyer before you finish your rehab, you can custom the backyard, and indeed everything else to the buyer's specs. 

 

 

 

 

 

10] The Roof and Siding

Some of you will come across houses that 100 years old. The foundation is still solid but the house needs to be upgraded. Make sure you know the age of the roof and perhaps it only has 5 years remaining. You can't make everything else sparkle in the home and the roof will EOL in 5 years. You must know the number of years the roof has before it EOLs and if it needs to be replaced, budget it as part of your initial cost analysis. If a buyer knows that the windows are new, and everything else is upgraded and the roof is brand new, they will have peace of mind and won't worry that they are paying you through the nose. Just make everything sparkle, including the roof, will you?

 

 

 

11] Report Defect Clearance

Never put a remodeled flip on the market without clearing everything that needs to be cleared. Did you do home, termite, roof, and foundation inspections when you made your offer? What did those reports call out? If they called anything at all, make sure you fix them all before and then call the inspectors back to clear all the defects. Having a clean slate saves you time and money. Use the most reputable company in your town for all your inspections. Tell them you are a member of our tribe and see if they can give you a discount as you will be bringing them future business. Make a deal with them. 

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