Hey everyone, I was just wondering if anyone has any experience rehabbing 2 houses at once in the same area. What were some difficulties? Definetly something to stay away from? Thanks.
Multiple rehabs is the way to turn cash into cash flow. Two in the same area just make it easier to manage. Be more dilligent in recording everything or you can easily mix up the scope of work and material deliveries. Go for it!
Do you some financial or time issues? If you have both or even one of them, you would save yourself some stressful moments of hiring the “qualified” people to do it. I said qualified because you could have some folks to do it and then won’t meet your standard or even sloppy work…not good.
Do you consider yourself a real estate investor/businessman or a handy man? You have to value your time and concentrate in finding more properties or getting some renters or buyers for those homes your fixing.
You have to stay with your primary goal of why you’re investing in real estate. If you’re planning to spend more time with your family but financially independent, hire someone.
How do those big shot real estate developers do their business? And at the same time build multiple properties…they delegate. I read it from one of the best real estate books by William Nickerson, he mentioned a guy doing working on fixer upper spent most of the time working on the home! He missed out on the time he should have spent by his kids.