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WHAT IS A “PREHAB”?
It is a rehab but with minimal work done to it. A “prehab” might be a bank owned property that you purchase, clean out, and do minimal repairs such as replacing a broken tile or cracked window. These fixes may seem overwhelming to some buyers, but as a flipper you can get in there and make these low cost fixes for about one third of what you can get as a return on your flip.
OPPORTUNITIES TO CREATE A NICHE MARKET FOR YOURSELF WITH PREHABS:
- Sell to investors looking for rental properties needing little to no work.
- Sell to rehabbers who do more complex renovations. They may appreciate the fact that you took care of the initial clean up phase, leaving the property ready for major repairs and renovations.
Search for your prehab property now!