Comments on: The Rehabber’s Eye http://www.biggerpockets.com/renewsblog/2008/01/08/the-rehabber%e2%80%99s-eye/ Learn, Network, Invest Wed, 15 Oct 2008 21:36:07 +0000 http://wordpress.org/?v=2.6.1 By: Real Estate Readings | TheWildInvestor - Ramblings of an Entre-vestor http://www.biggerpockets.com/renewsblog/2008/01/08/the-rehabber%e2%80%99s-eye/#comment-53610 Real Estate Readings | TheWildInvestor - Ramblings of an Entre-vestor Sat, 12 Jan 2008 20:06:01 +0000 http://www.biggerpockets.com/renewsblog/2008/01/08/the-rehabber%e2%80%99s-eye/#comment-53610 [...] at Real Estate Investing for Real, Richard discusses the “rehabber’s eye” and being able to see if a house will actually make you [...] [...] at Real Estate Investing for Real, Richard discusses the “rehabber’s eye” and being able to see if a house will actually make you [...]

]]> By: Real Estate | TheWildInvestor - Ramblings of an Entre-vestor http://www.biggerpockets.com/renewsblog/2008/01/08/the-rehabber%e2%80%99s-eye/#comment-53609 Real Estate | TheWildInvestor - Ramblings of an Entre-vestor Sat, 12 Jan 2008 20:00:34 +0000 http://www.biggerpockets.com/renewsblog/2008/01/08/the-rehabber%e2%80%99s-eye/#comment-53609 [...] at Real Estate Investing for Real, Richard discusses the “rehabber’s eye” and being able to see if a house will actually make you [...] [...] at Real Estate Investing for Real, Richard discusses the “rehabber’s eye” and being able to see if a house will actually make you [...]

]]> By: Cuban Cigars Dave http://www.biggerpockets.com/renewsblog/2008/01/08/the-rehabber%e2%80%99s-eye/#comment-53584 Cuban Cigars Dave Fri, 11 Jan 2008 10:31:23 +0000 http://www.biggerpockets.com/renewsblog/2008/01/08/the-rehabber%e2%80%99s-eye/#comment-53584 I think the most important is not over capitalising. Many people make this mistake and spend potential profit on renovation. I think the most important is not over capitalising. Many people make this mistake and spend potential profit on renovation.

]]> By: Nickster http://www.biggerpockets.com/renewsblog/2008/01/08/the-rehabber%e2%80%99s-eye/#comment-53550 Nickster Wed, 09 Jan 2008 17:56:26 +0000 http://www.biggerpockets.com/renewsblog/2008/01/08/the-rehabber%e2%80%99s-eye/#comment-53550 As a contractor I can tell you there are 2 keys to rehabbing... One is buiyng at the right price which is a little trickey right now. Start with a shortsale or forclosure if you can. Two is not over building. You need to take a real look at your competition (homes withing a 1/2 mile or so) and build just slightly better than them. If you spend too much you will not get you money back. You can save money by doing the labor intensive stuff yourself, but leave the skill stuff upto the contractors. Found a cool new site http://www.beekast.com for finding new properties. As a contractor I can tell you there are 2 keys to rehabbing…

One is buiyng at the right price which is a little trickey right now. Start with a shortsale or forclosure if you can.

Two is not over building. You need to take a real look at your competition (homes withing a 1/2 mile or so) and build just slightly better than them. If you spend too much you will not get you money back.

You can save money by doing the labor intensive stuff yourself, but leave the skill stuff upto the contractors.

Found a cool new site http://www.beekast.com for finding new properties.

]]> By: Kristy Petrillo, Blue Ridge http://www.biggerpockets.com/renewsblog/2008/01/08/the-rehabber%e2%80%99s-eye/#comment-53521 Kristy Petrillo, Blue Ridge Tue, 08 Jan 2008 21:08:48 +0000 http://www.biggerpockets.com/renewsblog/2008/01/08/the-rehabber%e2%80%99s-eye/#comment-53521 Happy to have found your site. Always looking for some good insights on Real Estate! Kristy Petrillo www.GeorgiaMountains.com Live the North Georgia mountain dream. Mountain views, river front and Lake Blue Ridge homes and land. Rent it out when you’re not there. Happy to have found your site. Always looking for some good insights on Real Estate!

Kristy Petrillo
http://www.GeorgiaMountains.com

Live the North Georgia mountain dream. Mountain views, river front and Lake Blue Ridge homes and land. Rent it out when you’re not there.

]]> By: Steven Boorstein http://www.biggerpockets.com/renewsblog/2008/01/08/the-rehabber%e2%80%99s-eye/#comment-53515 Steven Boorstein Tue, 08 Jan 2008 16:36:04 +0000 http://www.biggerpockets.com/renewsblog/2008/01/08/the-rehabber%e2%80%99s-eye/#comment-53515 In my opinion, rehabbing is a specialty in real estate, just like landlording. I think those that succeed long term, like the author suggested, start off with smaller projects and work upwards as they gain experience. Especially in more difficult markets like this one, with high levels of property inventory, you don't want to bite off more than you can chew (or fix)! Steven Boorstein Landlord Business Insider In my opinion, rehabbing is a specialty in real estate, just like landlording. I think those that succeed long term, like the author suggested, start off with smaller projects and work upwards as they gain experience. Especially in more difficult markets like this one, with high levels of property inventory, you don’t want to bite off more than you can chew (or fix)!

Steven Boorstein
Landlord Business Insider

]]> By: RJacobsen http://www.biggerpockets.com/renewsblog/2008/01/08/the-rehabber%e2%80%99s-eye/#comment-53514 RJacobsen Tue, 08 Jan 2008 16:14:48 +0000 http://www.biggerpockets.com/renewsblog/2008/01/08/the-rehabber%e2%80%99s-eye/#comment-53514 You raise some very good points about "fliiping". I was watching one of those house flipping shows over the weekend and the young couple, who were investing in a home to flip, appeared to be novices. I don't follow the flippers and their lives too closely, in fact every time I watch the show I see new characters. But this young couple had failed to follow city codes which set their project back a few days and obviously added to their overall cost for repairs. My point is... that experience plays a large role in a successful flip and like you mentioned, experience helps to identify problems in advance. You raise some very good points about “fliiping”.

I was watching one of those house flipping shows over the weekend and the young couple, who were investing in a home to flip, appeared to be novices. I don’t follow the flippers and their lives too closely, in fact every time I watch the show I see new characters. But this young couple had failed to follow city codes which set their project back a few days and obviously added to their overall cost for repairs.

My point is… that experience plays a large role in a successful flip and like you mentioned, experience helps to identify problems in advance.

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