Top Five Skills of a Rehabber

A rehab is a safe haven for all the addicts who seek refuge and inpatient treatment for substance abuse (amongst others) in order to live a clean life. Buying a property and rehabbing it either to sell, lease-to-own, or rent can be a great way to invest. Unfortunately, some investors find out the hard way that they just aren t prepared for the level of commitment and work required in a rehab.

Whether you choose to rehab a property yourself or outsource some or all of the work to others, here are the top skills that rehabbers need to master:

1. Project Management

In spite of what you see on those flip shows, rehabbing a house successfully is not a haphazard effort. It takes serious planning and sticking to the schedule. It takes plenty of communication with everyone involved, and plenty of follow-up. The most effective rehabbers may not ever pick up a hammer or a paintbrush but they can work a project management timeline like a pro!

2. Creative Problem-Solving

Most rehabbers will tell you that as soon as you start tearing out walls and floors, you’ll encounter a new problem that was invisible during the initial inspection. Being able to assess these problems and overcome them without being sidetracked by stress will ensure that you keep the project moving forward.

3. Marketing

Your ability to market the property is essential and it actually starts long before the rehabbing is finished: Even your choice of flooring, paint, cabinets, appliances, and landscaping is a type of marketing effort, which may mean that you’ll have to bring in a cheap tree removal jacksonville fl service or a service within your vicinity, as well as local painters, remodelers, etc. so you can present the house in its best way; ideally this will be a low-cost, high-return effort that helps to position your property as attractively as possible. And of course, once the rehab is complete, you’ll need to apply those marketing skills to find a tenant or buyer.

4. Relationship Management

Experienced investors will agree that a rehab is all about managing relationships with your financers, relationships with the neighbours, relationships with contractors, relationships with government agencies and inspectors, relationships with real estate agents, and relationships with the tenants or buyers. Learn to connect with people and build positive, win/win relationships and your rehabs will become so much smoother!

5. An Ability to Finish Well

When you’re starting your rehab, it can be easy to picture the rehab in broad strokes what big changes need to be made, and when. But finishing well with an eye for detail is an entirely different skill-set. Sure, you might juggle a hundred different contractors through one after the other but did you notice that they missed putting both screws in a light switch cover in one room, or that one of the tiles wasn t set straight in the bathroom? The ability to see the big picture and then follow-through with the details is so important, especially if you want to get top dollar for your property.

Rehabbing a property can be a great way to invest but it s not for everyone. If you can master the tasks described above, you re probably up for the task. Fortunately, if you don t want to master these tasks, there are other alternatives for investing.

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