Rehabbing Properties in Billings Montana


“We Make Money in the a.m. and Lose it in the p.m.”   Paul Esajian

So how do you get started in Rehabbing Properties in Billings Montana?  Billings Montana is like any other city in America; you can find houses all over that need to be fixed up so that you can sell them or so they will be approved for conventional financing.   You should consider yourself a residential redeveloper.  You are making neighborhoods in your city better every day.   The process seems very simple and it can be.  You buy the house, fix it up and then sell it for a nice profit.  It’s simple enough right?  Everyone who has done a rehab before knows that it’s not that simple.  There is always something that goes wrong and it can be some very back breaking work.  What if I could help you make your rehab process easy?  Well I can do that and help you eliminate all the back breaking work.

As a residential redeveloper in Billings Montana you need to start working smarter and not harder.  Let’s jump right into where you want to get started when doing rehabs in Billings Montana.

First you need to find an ugly house to rehab in Billings Montana.  You can find these houses by asking people you know, driving around neighbor hoods, marketing or going to a Billings Montana Wholesaler.   Now all of these options take work except wholesalers who bring the deals straight to you.  With the other option you have to spend time and money talking to sellers, negioating a price and actually finding the deals.   Wholesalers do all of that for you and then sell you the property at a little higher price than what they bought it for.  Its considered there fee for finding the property for you and getting it at an amazing price.   If you would like to join my buyers list I provide wholesale deals in Billings Montana.  Go to www.BuyHomesMt.com.

The next step once you have the property bought and closed you are going to have your initial walk through.  You should have already walked through it with your wholesaler but this is more of the formal walk through.   In this walk through you are going to list out everything wrong with the property in detail.   I have a good inspection sheet that you can use to do this.   Once you have walked through and listed everything you need to list out what everything is going to cost.

After the walk through you are going to make a scope of the work that needs to be completed.   This is listing out everything that is wrong and how long each task is going to complete.

Next you need to hire a contractor to do the work for you.   I recommend when starting out you go through the property with at least three contractors and get estimates of the work that are going to do and price.  Show them the scope of work that you have developed and tell them what needs to be done.   Pick the contractor that you feel is the best, and not just the one who is going to do the cheapest work.  Also make sure the contractors are licensed, have insurance and have extensive referrals.   Never do the work that you can pay someone $10 an hour to do.  Your time is worth more than that.

The next step is you sign the contract with the contractor.   You will need an independent contractors agreement, scope of work, payment structure (never pay them up front), Insurance addendum form, w-9, and final lien waiver.

Then you need to get the contractor to work on your property.  The actual work is pretty easy.  All you have to do is manage you contractor and make sure he is doing the work.  Don’t micro manage him.  Give a little bit of freedom and you will have a happier contractor.

The final touches include cleaning up, land scaping and then staging your house to sell.

Price It Right, List and Sell.

Bonus Material

Give your house the sizzle factor.   This means giving your house a few extra improvements to make it stand out.  This helps get the buyer emotionally hooked on your property.  These include an overhead microwave, washer and dryer, granite counter tops, hard wood, stainless steel appliances and anything that makes the house more amazing.

By

Christopher Seder

www.BuyHomesMt.com

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