Personal financeComplete Fixer Upper Tips for a Ten Day Rehab
If you want to get through fixing up a property in ten days or less, there are many things you should be on the lookout for before entering into any contract. Stay away from repairs that cost money and time. You want to stay in the relm of "cosmetic repairs only!
When you are looking at a property the first thing you want to look out for is plumbing, lighting, and heating. If you find any problems, then you should walk away. The problem is that if you need to repair any of these things, the costs can far outweigh the price of the home. People don't really care that you put a bunch of work into these areas, because they naturally assume that this is already covered.
Another thing you need to look at right away is the roof. While a few shingles or roofing tiles can be replaced pretty easily, the structural integrity of the roof beams and supports are important and can mean the difference between the kind of money and time you want to spend here. Again, it is assumed by the buyers that these things are in good working condition, it doesn't really matter how much time and effort you may have put into it.
Step back from the property and look at it as a whole. If it seems to list to one side, or has dips or flat spots in the roof, avoid buying this property. Fixing or having to replace foundations and structural supports, will not only cost you a lot of money, but often times it can't be done very quickly. You would have to take the whole roof off, or foundations and that is something you simply don't want to have to do, especially if you are trying to get things done in less than two weeks time.
If at first you don't see anything wrong, try again. Go inside and inspect the basement, or attic spaces. Take a screwdriver with you to check the integrity of wooden beams and floor joists. Many times the homeowner may not even know they have a termite problem, they aren't eating the wood from the outside. Stick the screwdriver into the wooden beams and poke around a little. It won't hurt anything and it will surely detect any under lying problems. Check the walls of the foundations for cracks, and moisture. If you see anything, that means you have a problem and should not purchase the property.
If it doesn't have a basement, get ready to get into the crawl spaces under the house. Be prepared to encounter all sorts of creepy crawling bugs, so put on some clothes you don't care about getting dirty and grab some bug spray. Watch out for little furry critters and bring a strong flashlight. It you have to cahones to do this yourself, you will go far in this business.
Of course you are looking for tell tale signs cracks in the foundations, separations between foundation and building, weak or rotten floor joists, things like that. Use that screwdriver to check for wood rot and termites. Make sure you look at any plumbing for cracks and leaks, and take a couple of good whiffs through your nose. It you smell mold or mildew, there is going to be a problem somewhere.
Now if you don't see anything wrong here come back and start again with the house itself. Don't forget to dust yourself off or change clothes. Have a checklist handy. Look for creaking floors, water stains on the floors, walls and ceilings, and look for any tell tale signs that someone has done some patchwork. Check outlets and make sure each one has a three-prong plug in. If you don't see any, then you may have electrical grounding issues. For these kinds of things, you should really hire a professional to help you out or you may get the shock or your life.
A really good idea is if you get someone in who is a licensed plumber or electrician, and they do a good job inspecting the place, if you end up buying the house, you should hire them to do the work. They will already be familiar with the problems, and can fix these things relatively quickly.
Whatever you decide to do, in order to be able to get rehabbing done within a short period of time, you don't want these hassles. They are a money-sucking pit that will make you want to pull your hair out. You want the simplest improvements that will turn the most profit. There are many tips out there for you to utilize, make the most of each and every one.