Getting Your Property Renovated

It's important before purchasing a property for investment to have a plan of action. To turn the house for profit in a reasonable amount of time, you should already have a strong sense of what can be done to the house before you buy.

Even if you have done do-it-yourself projects before, we encourage you to show the house to someone who is an experienced contractor.  He or she can tell you what is realistic and what is impossible.  Have them walk through the house with you, even before you buy it to give you a sense of the extent of what it will cost to do the work you desire.

Here are some key points to follow to ensure your success:

• Design and plan out the work in advance with as much detail as possible.  This includes the specific styles and materials you want used from flooring and paint to plumbing and fixtures.  This is key to helping you stay within your budget.
• Stick to your plan as closely as possible throughout the project
• Don't "over renovate."  Your house needs to fit your neighborhood.
• Do not do the work yourself unless you are a professional. Find a dependable and licensed contractor.  If you don't have a good one already, get referrals from friends, business associates or even the Chamber of Commerce and the Better Business Bureau.
• Check out their references carefully.
• Get at least three bids - more if possible.  The contractors will be working off the detailed list you created earlier when bidding against each other's services.  Typically, there should not be a huge disparity in quotes.  
• Once you've picked a contractor – work out a schedule both for payments and for milestones in which things must be achieved.  Again, be specific about the costs and materials you have outlined on your list.  It's a good idea to try and stay even with your contract so that you are pretty much paying for things as they are being completed.  Get all of this information in writing.
• Make sure you have all of the permits necessary.  It's not worth trying to get around permits because you could endanger the whole project if it is shutdown because the proper paperwork wasn't filed.
• Stay involved.  Make sure you are available for any questions that arise and that you address all work concerns swiftly to avoid costly "do over's" down the line.  If you are not always available, recruit a friend or partner who your contractor can turn to instead.

If your renovations are well planned out, your project will go much smoother and timely.  If you'd like to get a sense of some properties which Atlanta Investing has available for purchase and renovation, just visit http://atlantainvesting.com