Four Rehab Jobs You ALWAYS Leave to a Contractor (And One You Should Do Yourself!)
Whether you’re a seasoned veteran or are just starting out in fixing-and-flipping, you should know one thing for sure: the key to making money is saving money. You can double the profit of a deal by saving money with the property purchase price. You can also save a great deal of money in the rehab portion of the deal. However, many new fix-and-flippers aren’t sure which jobs should be left to the expertise of a contractor. Also, they want to know which jobs they can do themselves to save money on the rehab.
Fortunately, The Investor's Edge is here to help you learn four essential jobs which should ALWAYS be left to the contractor. This will save you money in the long run since they will do the work professionally the first time. There is also another job which you can do yourself which will save a ton of money in the rehab. But let’s start with the four jobs to be left to the professionals first:
1. The Kitchen Rehab
The kitchen is the heart of the home. It is also the #1 room in which to put all of your best rehab work. Your potential buyers will want to see the kitchen first, guaranteed. Therefore, you will want to make the kitchen absolutely shine with no room for error. It’s best to leave the cabinet installation, counter top replacement, stainless steel appliance installation and tile work to the professionals. Otherwise, you’ll end up doubling your rehab budget to pay for a licensed contractor to redo the work you goofed up.
2. Roof and Gutter Work
Repairs and updates made to the roof can significantly increase your overall profit. Like with a kitchen rehab, you want to make sure to do the job correctly the first time. Otherwise, you’ll pay out the nose for additional repairs and other hard labor to get the roof in satisfactory condition. We’ve also heard many a horror story of some new flippers who tried to install new gutters themselves. Not only did they choose the wrong gutters, but they were left bloodied, frustrated and covered in caulk by the end of the fiasco. The roof is absolutely essential to any rehab, so be sure to have it repaired by a contractor right off the bat.
3. Bathroom, Plumbing and Sewer Rehab
After your potential buyers take a look at the kitchen, they will want to see the bathrooms next. Therefore, you want to leave any vanity installation, plumbing repair or sewer work to the professionals. One new fix-and-flip couple tried to clear the sewer blockage themselves and had a giant mess on their hands. Good contractors, plumbers and roto-rooters know exactly what they’re doing and can get the job done right the first time. This will save you a great deal of money in the long run and give you an absolutely gorgeous bathroom over which buyers will start a bidding war.
4. Drywall and Knocking Through Walls
One very popular action with any rehab is to knock through any walls separating the living room from the kitchen. This creates a more open concept and adds the illusion of space to your property. But before you start crashing through walls or adding other drywall, you better put the hammer down and think this through. Many walls are supporting walls and it’s difficult for the new flipper to determine which is which. For drywall installation and removal, you should rely on the expertise of a contractor. They will know which walls are safe to remove. They will also deal with the pain of lifting heavy sheets of drywall so you don’t have to.
Now that we’ve discussed which rehab jobs the contractors should perform, let’s talk about what YOU can do easily to save money on your rehab…
1. Tiling
There is one rehab job that pays far more dividends than any other if you do it yourself: installing tile. Tiling is easy to learn and master, requires little skill and few supplies and can save you a ton of money in the end. To do the job correctly, all you need are a few simple tools:
- Tile Cutter – You will want to invest in a wet saw to cut the tile to its proper proportions.
- Mastic Bucket – Mastic is the cement-like substance you use to stick the tile to the floor. It can come either wet or pre-mixed.
- Mixer – This mixes the mastic if you bought the kind that needs water added. The mixer attaches to a drill, so make sure you have one of those handy as well.
- Putty Knife – You can use the putty knife to remove the mastic from the bucket and put it onto the trowel or floor.
- Trowel – The trowel spreads the mastic onto the tile or floor evenly for excellent adhesion. You will want to invest in a larger-toothed trowel for larger tiles, as it spreads more mastic onto the tiling surface.
- Level – This tool will ensure that your tiles are not only level with the ground, but level with each other.
- Float – A float is a sponge with a handle on the top which squishes the grout into the spaces between the tiles. You can alternatively use your fingers, but a float does the job far more easily.
You can also search online for helpful DIY videos to break down the process of tiling and help you learn the best methods.
We hope these tips help you put your best foot forward with your property rehab. In addition to providing essential REI tips and tricks, The Investor's Edge provides a team of investment professionals to help you with each stage of your fix-and-flip journey. Finding, fixing and flipping homes can seem daunting and we want to make sure you receive the help you need. We work with many people who have never done a fix-and-flip before, have bad credit and no downpayment. We help each one of them open the door to financial freedom by investing in profitable real estate deals.
Learn how to make money flipping properties with us by attending our next webinar.
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