Updated about 12 years ago on . Most recent reply
Newb to Rehab
I'm looking to start doing rehabs but not in my area, as my current market is well I doubt it's worth it. I'm looking into a growing area about 2 hours away from me. I don't have my real estate license, but I'm looking into acquiring them. I have access to good investors, myself included. My question is how is the best way to get started? How can I find foreclosures without a real estate agent? Being 2 hours away how do I find good trust worthy contractors? Also any other advice is acceptable.
Most Popular Reply
As a recent newbie to rehabs, I'd be going crazy if I had to drive 2h to go the property.
If I could go back in time, I would say three things to myself:
- more than 30min is too far for a first rehab
- read J Scott rehab book BEFORE you buy the property
- dont take on a big project, maybe paint, carpet and 1 problem (i.e. roof, bathroom or kitchen)
I wouldnt try to find a team from far away. My successes have all been thru connections with another seasoned investors. All my contractors came from referrals, and I really tried to reach out to other ways and get new contractors.