When you are starting to rehab an investment property, you have to set a goal of making it look aesthetically nice. So you start on the outside. You get a good look because you have your sign outside and you want people to think highly of the repossessed homes for sale that your company is associated with.
You want to give the traffic a good impression. You don't have to start the rehab by doing your final landscaping, but you want to have the place looking somewhat cleaned up.
So you start with your paint, windows and the doors. These are the things that are going to make the place look good. Then you move on to the next step which is to send your guys inside to do the drywall.
No bank repo house that we do have any kitchens, bathrooms, flooring installed until the last bit of painting is done. Because we don’t want to put that kitchen in there and have it sitting while I’m waiting to do those walls. Then we have some guy across the street, seeing those counters and cabinet sitting there. He then takes them and puts them in his house. It's a healthy paranoia.
We pay $5,000 for them; we don't want a crackhead pawning them off for $1,000.
We have had carpet stolen. We had it happen three times in one week once. It was like a nightmare come true. Three different houses. Now how does that happen, right? We also don't use copper because we know that the same crackhead would love to have copper wiring to sell. No one said flipping houses for profit wasn’t without risks or complications.
So we stage it so the really expensive items aren't just sitting there for someone to steal.
Once we have the inside done, then we do the landscaping and create a beautiful champion of curb appeal.
The signs are up, the place looks nice and we are prepared to get some phone calls. Since we played the cards right and hid the expensive things, we don't expect phone calls from the police asking for a description of stolen items.