Monday, November 25, 2013

Rules Of Thumb for Property Rehabilitation and Maintenance


It's a simple fact that there are many people out there that want to get one over on you. It is unfortunate but I see the entire culture of the United States changing into everyone trying to get one over on the other guy.

Real Estate as an Industry has it's fair share of dirt balls around every corner. There are safeguards you can put in place to protect yourself. We often do this with LLC's, insurance, leases, etc.

One area of your business that can drain a huge pile of cash out of your company is your rehab and maintenance services. That's why it's so important for you to know how much money it should cost to do any repair to your property that you may need to do.

How do you know when your contractor or maintenance people are charging you too much to rehab a house or paint a room? Or when they come up with some figures that look legit but the reality is that they cushioned the materials so much they will be walking away with fat pockets when they are done with you.

Our experts Andy Stowasser and Dennis Miller will be at REI this Tuesday to give us a seminar on the general rules of thumb in our area regarding the pricing of jobs. They will take two different angles. The cost of fixing up a property to flip condition and the cost of fixing up a property to rental condition. That includes each and every aspect. From a new roof to flooring.

These guys did this meeting before and it was so popular that we asked them to do it again. They will also be providing us with a simple cheat sheet that you can use on each job to ensure that you are being treated fairly by your contractor.

Ladies, and gentlemen, this is not a meeting to miss. I can't think of one single meeting that we have had that has been more beneficial in helping our members save money. As you know, contractors prices are often all over the board. Don't let them stick it to you again. This meeting alone could save you thousands in 2014. Go ahead and reschedule your plans if you have to.

Come on down and have a good time with some of the nicest people in Roanoke. By Far, The Largest Neighborhood Organization in the city. Real Estate Investors of Virginia.

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