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A description of the work to be performed is perhaps the most important part of any agreement or contract for a rehabbing job. It is the area in which most disputes arise. So please be sure that you make very clear the specifications.

For example, if you are asked to build a room addition like the "one down the street", you may be thinking about the shape and size while the person that asked you may be thinking about the finish materials.

Make sure you present your job proposal, your estimate, as detailed as possible with sections describing each particular area of the job like roof, floor, walls, plumbing, electrical, etc. Rehab Estimate Example

You should prepare a detailed list of all materials and supplies needed for the job, take the purchase list with you and takes notes of the price variations that may have occurred since your last prepared estimate to keep your database up to date. You'll never know how soon your next job may come.

Be ready! Rehab Purchase List Example

There are certain types of real estate that make better investment than others. Land can be used for many things, but is not income producing and does not provide any means of tax shelter.

Commercial income property (office buildings, strips centers, retail stores, industrial space, etc) is a good investment for the seasoned investor, but involves a level of expertise that most beginning investors do not posses, Unfortunately, commercial property often suffers from over-building and high vacancy rates. As the economy slows, small business go under, leading to more vacancies and less cash flow.

"Residential property makes the best investment"

The safest investment for the beginning investor is residential property. This is real estate that can be rented out to a residential tenant or can be sold for cash to people who plan to live in the property. The tenant pays rent that should be adequate enough to make your mortgage payment, pay operating expenses, and produce a small cash flow as a return on your investment.

The type of residential income property that we think is universally beneficial is a well-constructed "fix-up" property that can be purchased at below market price.

You want to focus on fix-up (rehabbing) either single family or small apartment units. Let us explain in more detail. If you are going to purchase property and specialize in retail customers or single-family investors, you want to concentrate on single family housing. This is what we recommend everyone that is starting his or her real estate investment career.

Here are the reasons:
-	People need roof over their land.
-	There is always a relatively good resale market for single-family homes
-	There is always a relatively good resale market for single-family homes.
-	There is a huge (almost inexhaustible) supply of people needing to sell theirs just about anywhere in the USA.

In general you are looking for a ten to thirty year old 3 or 4 bedroom with 1 or 2 baths house in an improving middle class neighborhood where most of the people who live there are owners.

The market price range should be anywhere between $55,000 to $150,000. There are certainly exceptions, but this is a good place to start. Please adjust the prices according to your area. Try to stay below the "Medium Average" home price.

A Financial Analysis must be completed before purchasing any property to ensure as well as possible the profitability of the deal. Financial Analysis Example

Older areas, particularly those that have aged well and are still popular, are happy hunter for fixers.

Our software tools are specially design for the small to medium investor that buy, fix-up, and resale or rent between 5 to 25 houses per year and wants to handle his or her business in a very professional way.