7 Great Online Tools for Rehabbers

Posted by on Jun 13, 2013 in Blog | 2 comments

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Flip This HouseThe most popular (and easiest to understand) real estate investment strategy is certainly the “fix & flip”, which is simply buying a home that needs repairs, fixing it up, and then reselling it to a retail buyer/homeowner.  While reality television shows may have made it the most common technique, tackling the renovation business is certainly not the easiest path to real estate success.   However, with a sufficient source of capital, a reliable crew, and the right deal…it can definitely be the most profitable.  So, if you’re thinking about living out your own real life episode of “Flip this House”, here are a few great online resources to help you in this new endeavor.

TheSweeten.comSometimes the hardest part about renovating homes Sweetenis finding a reliable crew that will show up on time (and sober) and get the job done on budget.  TheSweeten.com is a new website that matches investors (and homeowners) with the right contractor from their invite-only network of professionals.  You simply submit a project description, along with your timeline, budget, and photos, and the Sweeten will match you with 3 contractors from their database.  You then get the chance to review the contractor’s profiles, interview them, and select the best one for the job.

Google SketchUp – On a rare occassion, you may decide to redesigsketchupn a home’s layout, or remove some walls to open up the floorplan.  If you don’t have the budget for an architect, you can use Google SketchUp to get your thoughts on paper and help your contractor visualize your ideas.  Check out this great 2-minute YouTube tutorial, which shows how easy it is to create your own 3-D floorplan drawings.

 Valspar’s Virtual Painter – When you do a lot of renovation projects, you will eventually settle in on a colorValspar scheme that you will use on nearly all of your projects.  After all, if it isn’t broken, don’t try to fix it.  However, every once in a while you will come across a project that needs a special touch of color to help set it off.  Whenever that day comes, a great free online tool is Valspar’s Virtual Painter.  Simply set up your account, upload a picture of the room, and you can then choose from Valspar’s hundreds of colors to help find that perfect hue for your project.

RemodelingCost vs. Value ToolOne mistake that new rehabbers often make is to over-improve a house, or spend too much money in less important areas, and not enough money where it really counts.  While it’s usually common knowledge that the biggest bang for your buck comes from the wet areas (kitchens and baths), other renovation projects aren’t so obvious.  Remodeling Magazine’s annual cost vs. value tool is a great place to get ideas on where to best spend your investment dollars.

Here are some other great tools that you will find helpful in planning and organizing your renovation projects:

Kitchen Planner Online – Enter your kitchen dimensions, and then design your cabinet layout, sink, dishwasher, stove, etc.

Home Depot CalculatorsEnter your measurements and find out exactly how much material/supplies you need for carpet, tile, sheetrock, and more!

Pinterest – No, it’s not just your wife’s favorite go-to resource for a great quiche recipe.  Pinterest is a great resource for ideas and inspiration for your remodeling projects as well.

 Do you know of another helpful online tool for rehabbers?  Join the conversation, and let us know in the comments section below!

 

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2 Responses to “7 Great Online Tools for Rehabbers”

  1. John Powell says:

    This is a keeper! This is a back-up to the best laid plan. Thank you Matt

  2. John Powell says:

    Being a beginner, I get excited easy about new tools, so I jumped at this. Then I went to the website for cost v value and noticed that the closest to Pensacola I could get was Jacksonville. This is a real challenge, but WOW what a stimulus to my imagination. I say again, thank you Matt.

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