Here is a list of improvements you should make to the interior of any property you are flipping at a bare minimum.
Keep these items in mind the next time you are walking a potential rehab project.
1. Kitchen and Bathrooms
Completely remodel the kitchen and all of the bathrooms. These are what sell homes. They need a fresh updated look to them. Make sure you know the neighborhood and use materials that are comparable to your competition in that neighborhood. Do not skimp here.
When considering flooring in most rehabs, use laminate hardwood flooring in the main living areas and use durable carpeting in the bedrooms, which will feel good to bare feet. The laminate hardwood flooring will give your flip an upgraded look that is difficult to distinguish from actual hardwood. The laminate is not only less expensive, but it is much more durable and is even scratch resistant.
Make sure that your rehab gets a fresh coat of paint throughout. It will make the home feel fresh and clean. Make sure you use soft earth tones that make it feel inviting and homey. If the walls have minor flaws in them use a flat paint, otherwise use an eggshell that will be more durable.
Check the heating and air conditioning system in the home to make sure it is working. You do not want a surprise at the end if you have a big replacement job here. Also, make sure that the home will have air conditioning. This is becoming standard in nearly every market in the country.
5. Electrical and Plumbing
If you do not know this area make sure that your general contractor checks these systems out to make sure that you do not have any surprises. These are just some quick tips concerning the interior of your rehab project.
If you are ready to take on a new rehab challenge, and need funding, Center Street Lending can make it happen. We lend in TX, CA, AZ, WA, CO, UT, VA, MD, FL & NC, up to 80% of the property purchase price as well as 80% of your anticipated rehab costs. Give Rob a call today at 303-521-7622 , or request a no-obligation quote online. We use a simple, streamlined process, and can fund your project in as little as 24-hours!