Real estate is not for the faint of heart. It is for those who take calculated risks and know their domain well. Real estate has a place for everyone at the table, including rehabbers, wholesalers, realtors, contractors, architects, engineers and many more!
House flipping has caught on. So, what makes a good rehabber? It is all about patience, timing, labor, execution and capital. Learn all about house flipping from consultants at BD Capital.
It is, of course, the final stepping stone for many investors, wholesalers and realtors who have been patiently learning the art of house flipping on the sidelines.
There are five reasons why you just might make a good rehabber:
Already in the Home Rehabber Game
The quick turn-around time and large profit margin associated with the fix and flip investment strategy is definitely attractive.
And your understanding of this timing and money will definitely help you. So, this is why many wholesalers end up as house rehabbers – they already are masters at selling property at a higher price, same with realtors and other real estate investors. If you are fairly new in real estate and want to learn about this business, then read BD Capital case studies.
Sizeable profit is not unusual for house flippers, and the added advantage is that you know that these high returns can happen in a very short period of time. This is a good quality to have!
Risking it as a Home Rehabber: You Can Handle The Roller Coaster Ride
While house rehabbing, there are times when you could be without income for a long amount of time. The seasoned professionals in house rehabbing know that this is a genuine concern. It requires cash flow in order to succeed. So, if you can assess the risks and are cushioned for a possible roller coaster ride, then you might make a good rehabber.
Handling It As A Home Rehabber: Managing People Doesn’t Scare You
Rehabbing houses is similar to running a daycare center. Rehabbing a house is like to nurturing a child with utmost love and care. Besides supervising the house rehabbing, this business also requires an additional, constant babysitting of people, especially your contractors.
So, as a supervisor, if you are not afraid to hold people accountable, then it is a sign that you’d make for a good rehabber.
Capitalizing It as a Home Rehabber: You Can Raise the Money
Let’s acknowledge the proverbial elephant in the room – without capital or money, there is no rehabbing. You have to be able to talk to banks, hard-money lenders and private investors in order to convince them. You have to be good at raising capital.
Building relationships and raising capital should be a primary focus to grow a real estate business. The easiest way to get started is to find a capital partner. Learn more about that here at BD Capital.
Adapting as a Home Rehabber: You are a Chameleon
With all that is happening around the world, change is the only constant; those who adopt grow, those who don’t, are inevitably left behind. If you as a rehabber understand the changing market and its trends, then it is one of the most important qualities to have as a rehabber.
Understand this, growth happens when you push yourself out of your comfort zone. Because if you set sail into the winds of change, you have to quickly adapt to a volatile market such as real estate. If you are a quick learner, then fortunes can turn for you.
As a rehabber in real estate, you need to have these qualities with patience being the anchor that grounds you and the capital that gives you the wings to fly.
The above are reasons enough that you’d do a fine job!