Steps to Renovating a Property

Reno Strategies

• Rental Grade

• Flip Grade

• High End Rental Grade

• High End Flips

Reno Analysis

• Cost to Purchase

• Value Add Items

• Cost to Sell/Refinance

• Estimate Rehab Costs

• CMA = Comparative Market Analysis

Simple Steps to a Rehab

• Evaluate Condition of the Property

• Calculate ARV After Repair Value

• Calculate MPP Maximum Purchase price / Maximum allowable offer

• Create a Rehab Scope of Work

• Calculate a Budget and Get Bids

• Hire a General Contractor or Hire Trades and GC your own work. Hire project manager to manage trades.

• Pull Permits.

• Begin Demolition.

• Start with Big Ticket Items

• Minimum Curb Appeal

• Interior Rehab

• Maximum Curb Appeal

• Exit Strategy