At ZINC, we specialize in providing you with the real estate rehab loans and investment strategies that you need to succeed. When you're interested in obtaining a real estate rehab loan, you can trust the experts at ZINC Financial to help you find the best loan for you. Once you've qualified for your rehab real estate loan and purchased your investment property, the next step is to get the property into sellable condition, so that you can either sell it and earn a profit, or rent roll it up and secure conventional financing. Here are some tips to help.
- Make All Necessary Major Repairs. From roofing to flooring, to plumbing and electrical, before you begin focusing on any aesthetic improvements, it is important to make the largest repairs first. This may seem like common sense, but so many investors are so eager to begin selling properties that they sometimes lose site of their priorities.
- Focus On Your Overall Investment Strategy and Goals: When rehabbing, investors either focus on turning a property into a residence, a rental, or a property to flip. There are advantages and disadvantages to all three approaches. Obviously, with a short term real estate rehab loan, flipping the property is a logical strategy. Turning a property into a rental or a residence, however, can have long- term benefits, including the building of equity.
- Keep It Simple: Particularly if you are rehabbing a rental or a flip property, it is important to stick to neutral colors for the floors and walls, as well as the counter tops, cabinets, and other surfaces. Remember, the goal is to create a space that potential renters and buyers can visualize being decorated in their own preferred style and with their own possessions. Of course, if you are rehabbing the property to use as a residence, you can let your creativity take over and have fun, but keep in mind that in the future, should you decide to sell or rent the property, neutral tones usually sell better.
For more real estate rehab tips, be sure to speak with your ZINC Financial loan specialist.