REHABBING

STEP 1- Find the Property What to look for Motivated Sellers & No War Zones MLS REO’s Estate Sales Fire Damaged Corporate Owned Fell out of Contract Unique Homes

What to stay away from Small Bedrooms with no potential Disqualified Small Bedrooms with no potential Small Kitchen with no potential (open layout) No potential for ½ bath on 1st floor No master bathroom potential 2 bedrooms or less w no potential U/G Oil Tank Major Structural Damage

Getting your offer accepted Contractor Bids Go Direct or Waive Commission Credibility Packet Proof of Funds Quick Closing

Contractor Qualifications Licensed and Insured Pulls Permits Keep the job clean- (less liability) Give you a detailed scope of work with a breakdown Must have workers comp (proof) Willing to sign W9 and get paid with a check

Contract Signing “8 Critical Documents” Independent Contractor Agreement Scope of Work (DETAILS) Payment Schedule Insurance Indemnification Form W-9 Final Lien Waiver Change Orders POI and Workers Comp information

LEAD BASED PAINT njworkforce.org/epa.html Make sure contractor is reg. w county

Document every Stage of the Rehab Systems- Improve every time Social Proof- Facebook, Blog, Newsletter (Pictures, Videos, Docs) Raising Private Money Portfolio/Resume (JV’s, wholesalers) Show bidding contractors Get testimonials from Private Investors, Contractors, Agents, Buyers, Attorney Adds a lot of credibility