Remodeling Your Fixer-Upper
You’ve just bought your first investment property and it needs a little tender loving care. Here are some suggestions from Dean Graziosi to help you dress up your property.
1. Put on Paper. Whether you find an architect or do it yourself, put your ideas for your property on paper. Draw the changes you want and it will help you see how your place will look when the remodeling is finished.
2. Don’t reinvent the wheel. Seek out others who have done remodeling so you can learn from their mistakes. Check online, watch some of the tv networks that are dedicated to remodeling and even peruse magazines and other publications.
3. Check your wallet. Though good planning can certainly give you an idea of how much your remodeling will cost, it’s always good to have something extra for those unexpected over-budget emergencies.
4. Don’t do it alone. You might be handy but it’s best to make sure you’ve hired the right set of players for your remodeling project. Even though your designer might have some people in mind, take the time, to find workers who you are comfortable with at a price you’re willing to pay.
5. Get it in writing. No matter who you’ve hired to work for you, make sure the terms of what they’re responsibilities are, how much they’re to be paid and how long it will take to do the work are carefully spelled out in writing.
6. Permits. It’s important before work begins, to arrange for all permits you might need. From your county to your home owners association, don’t start working until you have all the documents you need giving you permission to make the repairs you intend to make.
7. Have a plan B. The best laid plans of mice and men means that you need to plan for unexpected problems. Whether it’s broken equipment, inclement weather or illness, try to schedule an alternative plan to keep your remodeling project on deadline.