How many rehabs have you done at one time?

Rehabbing & House Flipping
14yFollow

How many rehabs have you done at one time?

Greg P.
Los Angeles, CA · Member since 2009 · 717 posts · 50 votes

Hello all. As title states, I'm curious to know how many rehabs you have done at one time simultaneously. It doesn't have to mean at the same stages, but in one way or another be in the process of the rehab.

Thanks all.

0Reply
97 views

Most Popular Reply

Peter Giardini
Rental Property Investor · Baltimore, MD · Member since 2009 · 624 posts · 559 votes
14y

17... eleven rental units and 6 retail deals. All completed start to finish in 5 months.

The scariest thing is how fast cash flows out of your business when multiple renovations are underway. Very scary!

A strong team, loyal well trained employees, stong lender relationships, and being just plain crazy will get your through it!

2Reply
See this reply in the discussion

29 Replies

Jump to latestLatest
  • Aaron McGinnis
    Contractor · Atlanta, GA · Member since 2008 · 978 posts · 985 votes
    14y

    Speaking for rehabs I'm doing only for me... 3.

    Speaking for maximum number of renovations I've been running at the same time? 14.

    Once you get past 5-7, things can get really hairy if you don't have a good support/office staff in place. Online scheduling programs help A LOT.

    1Reply
  • J ScottPro Member
    Moderator
    Investor · Sarasota, FL · Member since 2008 · 17k+ posts · 17k+ votes
    14y

    Don't remember exactly, but somewhere in the 7-8 range.

    As Aaron says above, once you cross that threshold, you need to have one or two employees (plus some good systems) to assist, as things can get pretty disorganized very quickly.

    Podcast Guest on Show The Truth About Real Estate Investing in 2024 (What Investors NEED to Know)
    1Reply
  • Account Closed
    Investor · San Jose, CA · Member since 2012 · 2k+ posts · 3k+ votes
    14y

    Two. :)

    1Reply
  • Peter Giardini
    Rental Property Investor · Baltimore, MD · Member since 2009 · 624 posts · 559 votes
    14y

    17... eleven rental units and 6 retail deals. All completed start to finish in 5 months.

    The scariest thing is how fast cash flows out of your business when multiple renovations are underway. Very scary!

    A strong team, loyal well trained employees, stong lender relationships, and being just plain crazy will get your through it!

    2Reply
  • Greg P.
    OP
    Los Angeles, CA · Member since 2009 · 717 posts · 50 votes
    14y

    LOL thanks

    0Reply
  • Brian BurkePro Member
    Investor · Santa Rosa, CA · Member since 2012 · 2k+ posts · 7k+ votes
    14y

    15 single-familes going right now, about a half dozen finishing in the next week with just as many starting right behind them. Average turns 3 to 4 weeks. 3 project managers and two in accounting, I wouldn't want to try it with less. In addition to the SFRs, averaging about 4 to 6 apartment units per month lately, down from about 15 per month earlier this year. @Peter Giardini is right, the movement of cash is interesting to watch!

    Podcast Guest on Show The Truth About Real Estate Investing in 2024 (What Investors NEED to Know)
    1Reply
  • Patrik Kathee
    Salt Lake City, UT · Member since 2012 · 5 posts · 2 votes
    14y

    This thread somewhat goes hand in hand with the one below;

    http://www.biggerpockets.com/forums/67/topics/67674-is-it-possible-to-rehab-a-100-houses-a-year

    Encouraging insight from fellow members. Thank you all for sharing. :)

    1Reply
  • John Chapman
    Investor · Dallas, TX · Member since 2009 · 718 posts · 913 votes
    14y

    I'll offer a little different perspective from the rehabbers. I'm a buy and hold investor who also works full time and self manages my rentals (currently 11 units). I oversee the rehabs but don't swing a hammer or anything. The most I've ever done at one time is two, and that was the most I could probably reasonably handle.

    0Reply
  • Justin S.
    Residential Real Estate Agent · Chandler, AZ · Member since 2009 · 1k+ posts · 928 votes
    14y

    The most I have done is 5. I have 3 in remodel now and 2 pending on the MLS. I have a PM though and that helps a lot. It takes too much time managing them and also looking for my next remodel.

    0Reply
  • James Martin
    Property Management · Memphis, TN · Member since 2009 · 667 posts · 362 votes
    14y

    Three (3)

    0Reply
  • Larry K.
    Investor and Architect · Ramsey, NJ · Member since 2010 · 305 posts · 84 votes
    14y

    The 2-family I renovated and am now holding was the only one at the time.
    Working full time in the city with my buys in the suburbs it is hard to imagine doing more than 2 at a time. I suppose if I had a full time job where I was more "in the field" or closer and could stop by I could do more.

    0Reply
  • Jon Klaus
    Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    14y
    Originally posted by John Chapman:
    I'll offer a little different perspective from the rehabbers. I'm a buy and hold investor who also works full time and self manages my rentals (currently 11 units). I oversee the rehabs but don't swing a hammer or anything. The most I've ever done at one time is two, and that was the most I could probably reasonably handle.

    My situation has been similar to yours, John, with 3 at one time at the most. Quaility suffered a bit, but I learned. Looks like I may have 5 spec builds going at once before long, but I am semi-passive on 3 of them.

    0Reply
  • Don Hines
    Investor · Little Rock, AR · Member since 2010 · 628 posts · 251 votes
    14y

    I have a rehab going on plus my own home up for sale. That is about all I want to handel while holding down a full time job. The experience has taught me that Hiring agents and contractors is not a "bad" thing.
    Don

    1Reply
  • Chris ClothierBusiness Member
    Rental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes
    14y

    I would be lying if I answered this with an "I" in it. My family owns the company and we have superstars who run our rehab companies.

    The most active jobs we've had at one time is 48 single family homes here in Memphis. They've completed 281 jobs so far this year averaging just under 17 days to complete and spending on average $18,394 per job. The entire process comes down to hiring or contracting with excellent people who see the big picture and know they are going to get consistent work if they do the job right, on time and on budget. We also use a ton of technology to monitor and track jobs as well as speed up processes that can get slowed down by having so many deals going at one time.

    Podcast Guest on Show #224
    REI Nation4.577 Reviews
    WebsiteView Page
    0Reply
  • Hunter Kenihan
    Real Estate Investor · Santa Monica, CA · Member since 2012 · 29 posts · 6 votes
    14y

    Im kind of a one man show (with the exception of my subs) and the most Ive had going at one time is two. Hopefully I will have a lot more than that going on in the future.

    0Reply
  • Jesse Tsai
    Investor · Las Vegas, NV · Member since 2011 · 188 posts · 116 votes
    14y

    We have 20 flips, 11 rentals, along with 2 dozen notes working right now.

    It takes my partner and I, along with two assistants, and almost a dozen contractors to make it happen

    As others have said, it comes down to having strong systems in place and technology to manage it all and keep it organized.

    There are a few companies here in Vegas that have a couple properties at a time. They sell more homes than the largest homebuilder's are!

    Chris Clothier, I'm strongly considering coming out to Memphis to see you and you family's operation next month. It looks quite interesting.

    0Reply
  • Greg P.
    OP
    Los Angeles, CA · Member since 2009 · 717 posts · 50 votes
    14y

    Jesse, if you don't mind me asking, how do you find majority of your deals? Do you pay your contractors with them paying for material as well as labor or do you pay for materials?

    Thanks.

    0Reply
  • Bryan Balk
    Real Estate Investor · Geneva, IL · Member since 2010 · 82 posts · 29 votes
    14y

    We currently are working on around 70 flips anywhere from just acquired to currently listed. I am not the principal of the company but am in charge of the acquisitions department. We currently have 9 employees plus countless number of contractors and always looking for more if anyone knows anyone working in the Chicago land area. We are always buying with cash if anyone has any deals in the Chicago land please send my way.

    0Reply
  • Ed L.
    Residential Real Estate Agent · Hattiesburg, MS · Member since 2011 · 475 posts · 141 votes
    14y

    3 is my happy number.. 1 under to contract to purchase, 1 in renovation, and 1 contracted for sale...

    Have 4 going right now and it's kind of a pita trying to put together 2 crews...

    1Reply
  • Aaron Mazzrillo
    Investor · Riverside, CA · Member since 2011 · 2k+ posts · 3k+ votes
    14y
    Originally posted by Peter Giardini:

    The scariest thing is how fast cash flows out of your business when multiple renovations are underway. Very scary!

    When I used to be more into rehabbing and flipping, I referred to this as high tide, low tide. Seemed like it was low tide a lot more than high, but when it came back in, it was like a tsunami. Then I'd have to hustle like crazy to send it all back out. Good times!

    0Reply
  • Jesse Tsai
    Investor · Las Vegas, NV · Member since 2011 · 188 posts · 116 votes
    14y

    @Greg P.,

    Our properties come from a variety of places.

    We get a lot from auction companies like auction.com. We also source some properties from local wholesalers, the MLS, and from relationships we have with other agents who call us when they have a good deal that needs to close.

    We used to get a majority of our properties from the trustee sale, but lately, the margins there have been paper-thin.

    As far as contractors go, we pay for the materials. We actually stock a lot of commonly used materials like light fixtures and bulbs, faucets, locksets, and flooring that we get on closeout in our office, and just give the contractors the materials needed when we assign them the property. Anything else that is needed is picked up by the contractor, and we reimburse them, or do a phone order if they are tight on money.

    1Reply
  • Gabe Cole
    Flipper/Rehabber · Newport Beach, CA · Member since 2008 · 45 posts · 9 votes
    14y

    For those that have replied they are doing multiple rehabs at a time, is there any particular software or computer program you use to keep track of all your properties and rehab status?
    Thanks.

    0Reply
  • Greg P.
    OP
    Los Angeles, CA · Member since 2009 · 717 posts · 50 votes
    14y

    Bryan, you gotta be kidding me 70 rehabs at once? Cmon lol

    0Reply
  • Chris ClothierBusiness Member
    Rental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes
    14y
    Originally posted by Gabe Cole:
    For those that have replied they are doing multiple rehabs at a time, is there any particular software or computer program you use to keep track of all your properties and rehab status?
    Thanks.

    Gabe - We use Saleforce.com. It started as a CRM program, but today you can customize and build off of its platform to integrate a lot of different programs. We actually built an I-Pad program to manage the renovation process. So when we look at a property that we want to purchase, one of the guys on our rehab team can start a file on that house in Salesforce and record the data we want on it. We built 380 questions into the program so he answers those questions, the program has calculators built in and he can use the I-pad to take pictures at the same time. He can open the Voice-to-text to record details and when he is done he hits a button and all of the data prints at our offices in the formats we want - spreadsheets, word docs, work orders for rehab crews and materials lists.

    Then, from that same program, we manage the rehab and track progress including time-stamps as to when things were checked. That time stamping helps us manage rehabs in two different states. With that program, you can print real time reports on what you have working, how much you have spent (and how much more is left to do and spend) and manage when properties are ready for home inspections and appraisals. When the whole process is done, we print out a complete Scope of Work for the investor that purchases the property so they can see and read everything that was done and what was spent.

    Podcast Guest on Show #224
    REI Nation4.577 Reviews
    WebsiteView Page
    1Reply
  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    14y

    Chris, that might be a great marketing tool, but really....

    Why do you kids always want to get a software package to do your wrok? :) Impossible! How is a software program going to help you when you find an old lead pipe running through a wall, or find concrete block in a demo? Computeres are great but don't start thinking that they will think for you.

    I guess this OP question is saying properties and not units, units would be 24 overseeing the rehab, but me doing the work, 4 and that's when I stopped doing work myself, I told myself my time was more valuable than sanding sheetrock! It was not planned to take on 4, I began with 2, then I helped someone out of a mess and then I got a deed-in-lieu. I picked up my tools and went home, next day I called a contractor. Rehabs, not new construction....

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free