Nearly all successful real estate investors have one thing in common. They create systems and processes in their businesses. With systems in place, they can just repeat their success over and over again.
Building those systems can be difficult.
Especially if you are in the business of rehabbing properties. Whether you are looking to turn around and sell the building after rehab or rent it out, there’s a lot of stuff you need to remember to do:
- Evaluate the deal
- Finance the deal
- Close the deal
- Determine what materials are needed
- Find contractors
- Sign documents with the contractor (Statement of work, Independent Contractor agreements, W-9, etc.)
- Ensure the rehab plan is in the correct order (don’t hang the sheetrock before the plumbing is done)
- Take pictures and videos for the sale, rental ads or your records
- Find a way to manage the project with all the other parties along the way
Not only do you have to do all these…
JP Moses
is a real estate investor in Memphis, TN, with experience ranging from land lording to note buying, rehabbing, and wholesaling. However, wholesaling is the area that he enjoys most and where he bring the most experience and expertise to his students.