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Updated over 4 years ago on . Most recent reply
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Out of State Rehab- what to do?
I purchased an occupied rental in Indiana in February. The lease is up at the end of August and the tenants are moving out. The original plan was to go to Indiana and rehab the property ourselves. But then you know what happened...COVID!
The house has to be updated. I bought it cheap knowing it would rent much higher with some improvements. This is the first investment house I have had to do any improvements to. I own one other that came in pristine condition.
We live in Maine. I have a property manager whose team will do the rehab. But I am always wary of what other people will decide in my absence. Do I get multiple bids on the rehab? Do I just go and stick to the original plan? Any suggestions??
Most Popular Reply
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Just come to Indiana and do the rehab. My parents are in Maine and the covid restriction are stupid. We're nearly open in Indiana and you'll enjoy normal life again.
First step is to figure your SOW. This is putting a lot of trust into your PM to get you the info (pictures and their knowledge of the area) you need to decide what needs to be done. From there, get quotes from 2-3 contractors.
What part of Indiana is the property in?