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Many investors use the word “rehab” and “renovation” interchangeably, but there is a difference. A “rehab”, short for rehabilitation, means going into a property and doing smaller repairs, such as painting and small tile work, to bring it back to a livable or original condition. A renovation requires more work and changes the property into something more modernized. It might include redesigning the floor plan or gutting a kitchen and/or bath and updating it with modern amenities.
Investors are making profits buy doing both rehabs and renovations. As an investor, you need to be able to recognize and evaluate a property for profit. Consider the work that can be done and what needs to be done. Evaluate your financials. Make your decision to rehab or renovate based on the amount of money needed for the investment and the money invested.
Click to view rehab or renovation opportunities in Bradenton & Sarasota, FL