The Oldest and Most Trusted Real Estate News Magazine

My house rehab project

By

ok so I debated on whether or not to put this on here, but I figured why not! If you dont want to watch, I dont mind just turn it off! i did all this work myself except for the carpeting- had to pay someone to do that! :o )
Video Rating: 4 / 5

REItips.com – Detroit Wholesaler Bob Norton’s personal tip on how to estimate average costs to rehab a house in any area very quickly – whether a “gut rehab” or “lipstick and mascara” job.

.
house rehabs

Image by pushbuffalo
Photo by Whitney Arlene Crispell.

Scenes from PUSH Buffalo’s green rehab of 10 Winter Street. In partnership with WNY Americorps and its Youth Build program.

Rehab-Real-Estate: Rehabbing Houses And The Thing They Call Recession

Some say that the recession is the ultimate enemy of investing. Smart ones, however, beg to differ. They consider the economic slump as an opportunity to make it big in real estate investing, especially through rehabbing or fixing and flipping houses.

Rehabbing is buying a distressed property, repairing it, and selling it at a much higher price. Investors are taking advantage of the number of undervalued properties across the country and are turning these old houses into new homes.

Rehab-Real-Estate.com | Rehabbing Houses And The Thing They Call Recession

Fixing and flipping houses is indeed inviting, especially to those who love maintaining homes. Handymen, or those who like to do odd jobs on their own, will love this business. You get to repair a house and beautify it, which is something you like doing, and get paid for it handsomely. While others simply love rehabbing houses, it is the huge rate of return that really attracts people into this form of real estate investing. Those who are good at it earn a ,000 paycheck with just one project.

Another good thing about rehabbing is that it does not require a huge capital. Matter of fact, you can start fixing and flipping houses with little or no capital at all. This is possible through hard money financing, which unlike traditional loans, will be able to fund the whole project. Traditional lenders like banks only lend money to buy the property you want to rehab. If that property is worth ,000 then you’ll get ,000 from the bank. You must then shoulder the repair costs needed to raise the property’s value.

Hard money financing, meanwhile, is based on a special formula. Lenders usually give out 70% of the after repair value (ARV) of the property. The ARV is the value of the property after you complete all the repairs and renovations on it. The 70% ARV is usually enough to buy the undervalued property and may even partially or fully cover the repairs.

What is important is that you learn the basics of this business first. Ask seasoned realtors and investors, read books and magazines about real estate, and find informative websites that can help you in your real estate investing. Try visiting rehab-real-estate.com, contains videos and articles on real estate investing. The web site is ideal for beginners who know nothing about the business but would like to take advantage of the current market condition and make a fortune from rehabbing.

For more Real Estate Learnings go to: Rehab-Real-Estate.com
You can also follow me on Twitter: REIwithCarrie

Tags: , ,

  • Lisasz09

    @CLOUDTHOUGHT yes except for the one bedroom!

  • CLOUDTHOUGHT

    you rent out the house fully furnished?

  • dobyemable

    i like the changes

  • mademoiselletoffee

    u have a really nice and big house!! r u moving in there???

  • fernandacorradi

    Congratulations!!! You made a beautiful job on this house!!

  • Lisasz09

    I do my videos in a different house- this one is a rental property! :o )

  • Bertj852

    where do you do your videos?

  • Lisasz09

    I use dthe laminate tiles for the flooring in my bathrooms! It worked out great!

  • mandyho13

    That looks awesome! What did you use for the flooring in your bathrooms? I have to redo the flooring in my 2nd bath and was thinking about just redoing it with laminate tile looking stuff. I appreciate your response!

  • susanannlopez

    Lovely colors-warm yet still bright.

  • Lisasz09

    aww thanks I am just so glad to have it done! :o )

  • cheryl8311

    AWESOME !! Great job!!! You just inspired me to do some rehabing LOL

  • Lisasz09

    aww thanks I worked hard on it! :o )

  • xoxnatasha1113

    i love the colors you chose :) especially in the kitchen it makes your cabinets have a special ‘pop’

  • Lisasz09

    aww thanks so much! :o )

  • cardingsan

    great job , well done :o )

  • Lisasz09

    haha! That is what got me started when i first painted the living room red! :o ) Good luck and enjoy!

  • Lisasz09

    Thank you so much! :o )

  • PearlyThePug

    I LOVE the new kitchen!!!! and the light blue walls……it was in one of the bathrooms I think :p (can’t remember) ……you make me want to paint my entire house!!!! i moved into a new house a little over a year ago and the walls are just standard white right now…….boooooooo! LOL… great job on your house rehab!!!! :)

  • brushjunkie

    Nice job. Congratulations!

  • Lisasz09

    aww thanks so much! :o )

  • lemonylimes

    such an inspiration girl! love it! kitchen floor is fabulous

  • Lisasz09

    it took about 6 months of me working on it three days a week!

  • Essy1993

    Okey. I want to do that when i grow up. Redo a house..

    how long did it take?

  • Lisasz09

    no I live with my boyfriend and i have that house up for a rental! :o )

  • pplstan92

    Activity the best learning curve!!

  • Brookins08

    Thanks

Sitemap Madbadcat Graphics