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On this episode of The Most Dwanderful Real Estate Podcast Ever, Dwan will tell you the fastest way to sell your rehab. This is the last episode of the rehabbing mini-season and it is a great one to finish on.
Dwan’s biggest pet peeve with rehabbers is when people rip out a bathroom or a kitchen and then put all of the appliances/fixtures and cabinets in exactly the same spots. Once you demo the room, take measurements and go to Home Depot. They can digitally redesign your space and make it feel like a brand new room. Speaking of bathrooms, Dwan and Bill always install urinals in the bathrooms they redo and the men always love them. Most rehabbers try to sell the house to the women based on the kitchen and bathrooms, but if you put a urinal in, the men will be on board too.
In order to sell your rehab quickly, Dwan recommends that you install the tile that looks like hardwood, install two kitchen faucets, put in an ice maker, and buy a kitchen suite so that all of your appliances match and are updated. When it comes time to sell, don’t immediately list your house with a real estate agent. Advertise and put on an open house yourself and see what kind of interest you can drum up. Start out pricing your house 5% below market value knowing that if you list it with an agent, they will bump up the price to account for their commission fee. Every 30 days that the house doesn’t sell, lower the price. With these tips, you are sure to sell your rehab in a timely manner and make what you expected to make off of the deal.
- 1:09 – Dwan is focused on people before profits and she wants you to be a successful real estate investor while helping people in distress.
- 2:59 – Dwan checks in with you and thanks you for being a part of the Dwanderful crew!
- 4:34 – With this new podcast structure, next month will be the start of a new mini-season. Your first flashpoint of this episode is that you found Dwan and you are on your way to becoming a successful real estate investor.
- 7:37 – Dwan and Bill are going to start doing one solo trip per year and Dwan is hoping to put together a cruise for all you Dwanderful people in 2020.
- 9:40 – So far in this mini-season, Dwan has covered rehab budgets, money saving tips, and thinking ahead. Dwan shares her biggest pet peeve about rehabbers.
- 15:06 – Dwan talks about the big changes you can make to the bathrooms, kitchen, and flooring that will make a big difference and help you sell your rehab fast.
- 18:55 – Do the extra touches that other rehabbers don’t normally do.
- 19:42 – Do your own open house before listing the house with a realtor. Dwan doesn’t think you should over-stage your house, just a few things in the bathrooms and kitchen.
- 24:09 – When you try to sell it yourself, put it on the market for 5-10% below market value for the first 30 days, then hire a real estate agent if you want to.
- 29:08 – Every 30 days with no contract, drop the price.
- 32:51 – Your assignment is to go the the Dwanumental Docs page of Dwanderful.com and fill out the rehabber worksheet.