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Posted almost 9 years ago

Time to Start the Rehab

So based off of emails and the way my schedule is looking, it might be some time before I can actually get some time home, so I am now going to start the rehab process remotely. After some discussion with my wife (who keeps me on track), this will be the best way to get things done. I have had a house sitting for the past month waiting on rehab and wanted to be there to manage the remodel myself, but that's not going to happen. 

I figure the easiest way to handle this will be in manageable jobs. I am breaking the whole rehab down in sections so that the cost doesn't get out of control. It might end up costing me a little more in the long run, but I'll take the chance after reading about rehabs that got way out of control from contractors that were less than trustworthy. I might break it down a little more, but this is what I'm thinking so far. I have a few contractors giving me estimates on the demo now.
Demolition
HVAC
Sheetrock
Finishings, appliance and bath installation, and paint
Floors

One of the contractors just gave me a lead. He knows of 3 houses for sale. One is a 3 bed 1 1/2 bath in the same area and they want 55K for it. I looked up the tax assessment and got the comps and the ARV is around 85K. I'll get some pictures taken of the place soon and see what needs to be done.

Also a multifamily came up on Craigslist and I have an email in to the owner about some specifics of the property. I am getting to go home for a couple days this weekend so I'm hoping to do a drive by at least over the weekend. Because I have very little time off before I go back offshore, most of my time will be spent with the wife, kids and grand baby Leah.


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