How soon do you start advertising your property for prospective tenants/buyers for rehab properties? We’re ususually working on such tight schedules than I want to make sure I get my ads up as soon as possible.
Do you start advertising before the project is completed and just get names and phone numbers (because you can’t show a house half completed can you?) or do you wait until the house is completely done and THEN start running your ads? I’m afraid I’m going to run out of time on my HM loan if I wait until the project is completed before advertising for buyers, or that I won’t have a lease in place in time to show the bank if I end up refi-ing out of the HM.
Our last one didn’t get advertised at all. The lease signing took place as I was finishing the interior rehab. I really don’t like showing places to people when they’re all ripped apart. Too many people can’t visualize what a place is going to look like when it’s done. Think of it like this: Now people “stage” homes for sale because some people are too dumb to see the potential of rooms in a house. By the time people saw the inside of this last house, we were down to just a few rooms needing paint and a couple floors needing tile installation. I wouldn’t have wanted someone seeing the massive drywall holes and pieces of floor I had to replace. I personally think a couple weeks before competion is about right to start getting interest in a place.
We do all of our front landscaping, paint the front of house, make all rehab repairs and kitchen / bath component replacements and paint bedroom cielings and walls, kitchens and baths.
We get our photo’s at this point for a listing, then go back in and do closet repairs, paint trim, baseboard and doors, install hardware, door stops and specialty components.
All the while we have our realtor show the property.
Our last flip sold in 36 hours, 13 showings, 4 offers and a sale for 7.2% above our asking price.
We spent the 4 weeks after the contract finsihing the interior, finishing exterior painting, landscaping back yard, finishing some exterior wood work and repairing buyers home inspection repair list.
Don’t wait any longer than you have to, time is of the essence!
I like to put a sign in the yard like----" another great home by"–.It helps stir up the neighbors.But as justin said,never let anyone in until the project is 100% done,people have zero vision.Also 1st impressions are everything.Best of luck to ya.
Within a day of me closing I stick a sign in the yard and it goes in the newspaper.