Important Changes To Make In Your REO's!

By Gavin J. King

Getting the ball rolling on any project often takes more energy than it should. When you do get things rolling you really want to be organized enough to keep up the pace. In the home rehabbing business, this seems to be common difficulty. Many times the most glaring issue that is wrong with a home is not easily discovered.

The first thing you need to take care of is not always the most obvious. Finding a good place to start will help you keep your rehab project proceeding in the right direction. To save you from all that stress, here's a lose list of what repairs you must do first when rehabbing houses.

First thing you should do is create a time-line for repairs. If you have a contractor, consult him and set a deadline for repairs. Can you get this or that done is a set period of time? Ten to twelve days? After you establish these time lines then you can work hard to meet that deadline and continue through each one.

Now, it is time for the demolition. This is the stage where you clean the property. This can be as extensive as removing a wall or completely gutting a kitchen. This can be as simple as carpets and padding to removing lathe and plaster. You may even want to update the furnace or air conditioner. If these are still working, you can sell them to surplus shops or neighbors. The money can always go toward something in your own project. If the old paint needs to be scraped, then it will go as well.

Major repairs come next. Always plan on operating on a smaller budget than what you anticipate at first. That means you must prioritize repairs that will eat up most of your money. Anything structural must be taken care of first and by a licensed professional. After that you focus on the obvious cosmetic repairs. Structural repairs can be anything that is directly tied to the structure or support of the home and doesn't necessarily remain visible after completion.

It is also important to make any changes to the ventilation system in your next steps. Plumbing and electrical systems must be updated if necessary. Cosmetic repairs or beautifying improvements will follow. Making any changes to lights, wall materials, paint or siding can be included on your list of cosmetic items to do. - 23305

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