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Updated 12 months ago on . Most recent reply

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7
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Big rehab project - advice needed!

Posted

Hi all, I may be embarking on a big rehab project for a single family home in east Austin and would love to connect with someone who has experience with rehab projects/has any advice they can share with me before I get started. Thanks in advance!!

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11
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6
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Irene Hunter
  • Real Estate Agent
  • Philadelphia PA, USA
6
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11
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Irene Hunter
  • Real Estate Agent
  • Philadelphia PA, USA
Replied

Hi Kelly, congratulations to you on your project! Some things I wish I would have done differently when I first started. 

1. Preclosing project meetings with your team; confirm the budget matches the designs and the materials are appropriate for your end game, whether you're renting it or flipping it. 

2. Prepare for extra holding cost expect budget and the timeline to be more than you originally thought.

3. Secure the property; even in the best areas I caution you to make sure the property is secure with an alarm system with cameras.

4. Systems and processes - your project manager or general contractor are responsible for weekly walk throughs, and material inventory.

Best of luck!

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