Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 10 years ago on . Most recent reply

User Stats

472
Posts
272
Votes
Joshua McGinnis
  • Rental Property Investor
  • Beverly Hills, CA
272
Votes |
472
Posts

Possible to "Rehab" remotely?

Joshua McGinnis
  • Rental Property Investor
  • Beverly Hills, CA
Posted

I'm looking at several HomePath properties in more amenable markets than my own and many will require some degree of repair before their rent-ready.

My question to you guys is how would you best advise on how to approach assessing the repairs needed, finding a contractor, and then ensuring the work is done ... remotely.

My first hunch is that this shouldn't be done. I'm not keen on buying property that I'll never see, but I know that there are some scenarios where this totally acceptable. Perhaps this falls under the category of it shouldn't be done?

If it can be done, what's your advice? Are there trustworthy contractors who do just this? How would I find them?

Your thoughts would be greatly appreciated.

Most Popular Reply

User Stats

658
Posts
315
Votes
Brant Richardson
  • Investor
  • Santa Barbara, CA
315
Votes |
658
Posts
Brant Richardson
  • Investor
  • Santa Barbara, CA
Replied

You have to find the right connection. I have a great guy in Kansas City. He is a realtor but used to be a property assessor and has overseen a lot of rehab projects so he understands the cost of rehab. He goes to properties, takes 20-30 pictures of everything that needs rehab and gives me a rough estimate on repair cost. If I buy it then he gets 3 contractors to bid on the job and we pick one. He then oversees the contractor and disperses money at the beginning, middle and finish. He earns the regular sellers fee when the house is bought and charges 5% of rehab costs to oversee the job. This set up is working well.

Loading replies...