8 Stages of a Rehab
A scalable and repeatable strategy for rehabbing investment properties.
Many real estate investors fail because they don’t have a plan for getting through the rehab process. House flipping isn’t just a fun hobby to brag about on Facebook, it is a serious business that can generate tremendous profits if executed properly.
Dividing Your Rehab Project into Phases and Stages
Flipping an investment property is a project, with defined milestones and deadlines. Instead of looking at a property renovation as one gigantic task, you will have a much easier time tackling the project if you divide the project into 2 or 3 phases that each consist of stages within those phases.
Dividing your rehab into Phases and Stages allows you to do 2 things:
1. Gives you a process that you can duplicate from house-to-house
The Phases and Stages we’ve developed over the past 10+ years can be repeated over and over again for all of your projects. Maintaining consistency across your different house flips will help you keep track of what you should be working on and what you should be preparing for next.
2. Can be scaled to take on larger projects
Our Phases and Stages can be used to tackle a job of any size – from a 2-week, paint and carpet rehab to a full-blown renovation project lasting multiple months. Remember that bigger house-flipping profits come from bigger house-flipping projects. Having a system that allows you to take on bigger projects will give you a distinct advantage over other real estate investors.
The 8 Stages of a Rehab
Planning is the most important Stage, and ironically the one that most investors skip.
Anything that isn’t going to be part of the finished product must go, and it must go now.
3. Exterior, Rough-In, Framing
Start on the outside to create a buzz, while roughing in your plumbing, electric and framing.
4. Drywall, Tile and Painting
Hang and finish drywall, install your tile and get your walls primed.
5. Cabinets, Cases and Bases
Install your kitchen cabinets (order your counters), install your baseboards and door casing.
6. Fixtures; Final Electric, Plumbing & Paint
Now it’s really starting to come together.
7. Carpet, then Doors
After having the carpet installed, hang your interior doors.
8. Last 10%, Cleaning, Staging
Finish your punch-out items, clean the entire house from top to bottom and have it professionally staged to maximum impact.
Take a deeper dive into each stage by watching the full video above!
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