The truth about rehabbing an investment property is that the success of your investment has less to do with your ability to rehab, and more to do with your using solid real estate comps, the ability to find and purchase a property at a low enough price point that you can make the necessary repairs and upgrades – and still sell to make a profit. In my experience with rehabbing, I’ve found that I have made more profit and done less work when I purchased the property at least 80% under the after repair value (ARV).
It will take some time to get to the point where you learn how to spot properties lower than 80%. The more experience you gain the sooner you will get to this level. Learning that seeing a lot of work to be done, does not always mean a lot of profit is another ‘on the job’ tip you will pick up.
Taking the time on the front end of a project to do your research, allows for smooth sailing during rehab and sale. I challenge you to delve into real estate rehabbing and make your mark.