Gets worse before it gets better?

Rehabbing, Fix and Flip, Rental Properties
1

Hey all,

For years I have studied, read, examined, and tried to prepare myself to rehab, its what I always wanted to do.  For the first couple I knew I would have to do alot of the work myself, its mostly cosmetic, I am having the roof done by a contractor, putting in new cabinets, flooring through out and good landscaping. I did all the tear out myself, and am within budget so far.  Its just that at this point the tear out is done, the roof is halfway done, and the place seems worse than when I got it, and I feel worried and discouraged. Is this normal? And for your information, it was a REO, the bank was asking 45k, I got it for 36k, estimated 10-12k in rehab, ARV is 70k.  Thanks in advance, and this place seems way more friendly than my other forum.
2

Sup thndrlight!

Actually I’ve gotten that same feeling a few times too followed by some anxiety attacks lol…but I’ve successfully completed 9 deals to date…your best bet is to have full control over everything you can control…and besides once you start putting in new stuff (cabinets, flooring whatever) it’ll start looking like nice dont get discouraged…I usually draw a rough draft of how I want the place to look like. In the starting it’ll look like this…mid way like this…and when I’am done…like this… and as always keep an eye on your budget :slight_smile:
hope this helps

3

Very normal…I have to talk my partner (my wife) off of the roof every so often (figuratively, not actually)…

We get an extreme sense of satisfaction when we’re done, though…

Keith