I am about to start my part-time rehabbing/wholesale business and making a contact list and preparations etc… but I have one concerns. I would love to know if anyone who is doing this rehabbing project between your full-time job hours successfully.
I’m still not sure if I can pull it off because my full-time job is pretty much sitting in front of my computer for 8 hours a day. I’ve already have a handyman who can do some work for me but how can I deal with the rest of the project tasks with my 8-hour job during the day??? Please I need some input!!!
I am in the same boat. If I could handle my rehab business via the internet I’d have it made, but that isn’t how it works. I would also like some suggestions as to how to work a rehab business while working your regular 8-5. I’m struggling with my rental properties while working at the same time, so I feel rehabs would be very difficult to handle.
How about finding a like minded investor that is willing to partner with you? You can provide the cash, they provide the equity and you split the profits? I will leave you to work out the details. The other option is to pay a contractor to do the rehab, however, that can cut into profits quickly.
My wife and I both work and do rehab for ‘rent and hold’ on the side. It takes a bit longer than if we were doing it fulltime (obviously!), but we just plug away until we are done. It takes 2-3 months to complete a project like the houses we buy…
Just plan ahead and make sure that you consider the extra holding time in your calculations (PITI, vacancy, utilities, etc.)…
Keith