Prehabbing
I thought about starting out prehabbing and then eventually getting into rehabbing If that takes about one weekend to do, would I buy the house, prehab it and then sell it? Wouldn't I have to pay closing costs twice that way?
excuse my ingorance please. What are you calling prehabbing? Please explain.
Yeah, please explain..never heard of that terminology b4.
If I understand your post correctly what you mean by prehab is kind of like whitewash to a fence where it looks better but it aint paint. Just kind of hauling off the trash and cutting the yard and draining the green slimey pool. Why actually buy the property.? Try to get it ubder contract, do the prehab and then try to flip to a rehab investor. Make sure you get a really great deal as the rehab investor will have a lot of expenses to buy, fix, carry and resell the property.
Good LUCK and HAPPY HOLIDAYS
Hope this helps some
Ted Jr
Hi all,
Something I'm trying now is just clean up the place for $100-$200 and then auction it off.
This is a lot less work for me than wholesaling because I don't have an established list of good buyers yet.
John
Yes, I never heard of prehabbing before either until I read an article on it. It is hauling away trash, landscaping, and other minor items to make the property more appealing to an investor. You say to put it under contract. The only problem with that is that someone else would most likely come to the seller with the cash to buy the place the seller would go for that deal before mine. Please explain how this works and where I get these contracts. Thank you.
By putting the property under contract, they are saying get a signed purchase and sale agreement. preferrably one that allows you to assign your position to another person. You can get them at most office supply stores.
Thanks for answering the question though, I had visions of someone hanging around a beat up old house just thinking about rehabbing it.