As an investor, you have countless opportunities to make large profits on properties that need various levels of rehab. Whether you need to do a few upgrades, or you want to take on an entire property rehab, your decisions can make or break a deal, and even your business. The contractors you team up with, the materials you choose, and the level of engagement you have with the day-to-day tasks determine the amount of profit you make on your investment.
This Property Rehab Specialist course will simplify what can be an intimidating and expensive endeavor, into clear and efficient steps toward a profitable end.
The Property Rehab Specialist student will learn how to do the following:
- Identify the key team members for rehabbing
- Determine when to rehab versus Wholesale and Wholetail
- Understand the types of homes to avoid
- Utilize the Quick Estimating Guide
- Determine how nice to make a house and what to look for when assessing a house
- Execute due diligence during the contract period
- Identify the four levels of Rehabbing
- Understand what features should be included in each level
- Establish the detailed scope of work
- Executing the pre-purchase inspections
- Identify how to find, interview, negotiate, hire, and pay contractors and subcontractors
- Determine whether or not to self-manage or hire a project manager
- Understand how to hire and manage a project manager
- Establish a system for all steps in the rehab process
- Identify the appropriate Realtor and how to pick a list price and market the property
- Develop a plan for responding to offers and requests for repairs
There are ten lessons in the Property Rehab Specialist course. They include:
- Introduction to Property Rehab
- Estimating Rehab Costs
- Four Levels of Rehabbing
- Scope of Work and Purchase Closing
- Finding and Hiring Contractors
- Self-Managed vs. Project Manager
- Managing your Rehab
- Running and Finishing Your Rehab
- Preparing to Sell
- Responding to Offers and Closing
Within this course, you will be given a variety of exercises to work through after each training video. These assignments can be accomplished alone or with your team. They will reinforce concepts with real-world, practical experiences.
There is an assessment or quiz following each lesson. To successfully complete the quizzes you must get a score of 70% or higher. Assessments focus on the critical elements of the course material, testing your understanding and retention of the course content.
Throughout the course, documents, scripts and sample templates will be provided to support your understanding of the course content. These templates will also be useful in current and future REI endeavors. Please remember that these are templates and are for educational use only.