What's Your Best Process for Getting Home Ready to Rent?

Question

Robert Smith · Answer

Prior to closing is where most investors start. During your due diligence time you have contractors come out and inspect the home and give you quotes to do the work. Once you close get the utilities on and start calling the subs/contractors to do the work. Many times I hire one person who can do most if not all the work needed. This saves time, headache, and phone calls, also less people to pass the buck if something does not get done in time or manner you expect. Plumbing and electrical are first for me usually unless something structural or a roof needs done to the home. Next would be any sheet rock and painting needed in the home. Cabinets and fixtures (electrical and plumbing) are next. Last I work on the floor coverings. I like to work from the top down, saves wear and tear and stains or paint on your coverings. I also like to go outside in, once the house is sound structurally I work on the landscaping then the interior. Get a sign in the yard once the outside looks good to draw interest, this way when you are ready to rent or sell you have a list of people interested in the home before you have to let it sit empty for a long period of time. This obviously isnt all inclusive due to time and space here in the post, however a good list to start from and should give you a general idea. Everyone has what works best for them, after many many rehabs I have what works for me and most other investors I work and associate with.

Joshua D. · Answer

Really appreciate that insight

Joshua D. · Answer

Great thoughts and super helpful! Totally agree with your thoughts. Thank you Rob & Mike!

Michael McDevitt · Answer

Before i close, I make a list of everything that needs to get repaired, replaced, or changed out.  From that list, I decide which things I will do and which I will hire someone to do.  With my latest property purchase, I did a lot of the small stuff and hired a contractor to rebuild the deck on the back of the property.  I took three weeks from closing until it was ready to list for rent.