Charging for rehab rather than flipping property

[Mark Ho]

I am considering offering property owners to rehab their properties and charge for the rehab project. The property owner will not require to pay rehab upfront, which is one of my selling point.  For example, lets say rehab cost $25K, which I will pay for and when rehab done I will charge the owner $50K. My other selling point is the owner will make more money selling move in condition home versus selling a fixer upper and on top of that he will attract more buyers who can obtain conventional loans. My concern would be after rehab done and owner likes it so much and doesn't want to sell.  Has anyone offered this type of services and what kind of problems were encountered? I know if owner wants to keep home and does not have money to pay for rehab then I can obtain a lien but that will require an attorney to go court to get judgment to force the sale of property. This will eat up profits and require a lot of time.  Any advice on this idea? Of course, preferably if I could buy the home at right price then I would but this is for owners who are not realistic about their selling price.

Thanks in advance.

Mark

[Aaron McGinnis]

So... you want to be a contractor?