6 Things to Consider When Executing an Investment Property Rehab in Fort Collins

If you’re thinking about doing property rehabs, this blog post will reveal 6 things to consider when executing an investment property rehab in Fort Collins – these could determine whether you succeed or struggle! NoCo House Buyers Inc can offer you great distressed properties to rehab if you find this article helpful and will continue doing property rehabs.

Rehabbing a property is a lot of fun. But there are pitfalls you’ll face as you acquire, rehab, and sell the property. If you’re not careful, these pitfalls could hurt your chances of a successful and profitable rehab! But we are here to help with 6 things to consider when executing an investment property rehab in Fort Collins…

6 Things to Consider when Executing an Investment Property Rehab in Fort Collins

1. What Do Your Buyers Want?

It’s easy to get caught up in choosing colors and selecting countertops but the most important thing to remember is that you’re ultimately rehabbing to sell, so make sure you select colors and decorations that buyers want to pay for.

2. Speed To Sale

Where a lot of rehabbers get off track is taking their time in different areas, perhaps only working a 6 hour day and then going home, or deciding to take the weekend to think about which countertop is the best one for the house. The sooner you sell, the sooner you make money. Period.

3. Permits

Rehabbers need to work quickly to make money but municipal governments, who grant permits, do not tend to move very quickly. Should you keep working anyway? Should you wait until a permit comes through? We always advise that you remain compliant with local laws but this can be a challenge at times since cities can take a while to issue permits.

4. Costs

Your budget, once realistically set, should be set in stone and every decision should be made with the budget in mind. One area that rehabbers get off track is in making many small decisions outside of the budget. Each decision on its own might not seem like a lot but those costs add up fast!

5. Team

Some rehabbers choose to rehab properties themselves and others choose to use a team. A team adds costs to your budget but can get the rehab done quicker. But it’s more complicated than that because a team can also add scheduling challenges. If you want to have a successful rehab with a team, you need to master the skill of leadership.

6. Marketing

The sooner you sell your rehabbed property, the better. Therefore, plan to do a lot of marketing regularly to get the most eyeballs possible on your property!

Summary

Planning to rehab a property? These are 6 things to consider when executing an investment property rehab in Fort Collins to ensure you stay on track and increase the likelihood of success.

If you’re a real estate investor and are looking for distressed properties to rehab and resell… have us find those properties for you.  Just tell us what your buying criteria is, and we’ll custom search for properties for you that fit your criteria. We have several below-market properties that are perfect for rehabs. Want to see our ever-changing inventory? Click here now and fill out form or call our office at (970) 744-4944

 

Blake Stevens

About Blake Stevens

I grew up in Fort Collins, I lived in Loveland and I’ve worked and played sports all over Northern Colorado. I love our area, NoCo. Our company borrows money from private lenders so that they get a good return secured against a hard asset they can see and understand. We take a problem property off a sellers hands and get them the cash they want. We fix up the worst houses or even just average houses and make them the gem of the neighborhood, which improves our community one house at a time. We put trades people to work and stimulate the local economy. We partner with people looking to get a return on their capital in long term rentals providing quality housing while earning a good secure return. All around it’s a win, win, win business that I love.
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