What goes into the rehab of a property?
The renovations, in terms of the scope of work and kind of rehab done to the property, are based on market analysis and the specific property location. We do have a general standard to go by on all properties to ensure they will produce a positive cash flow for investors in the long-term. Every property is unique, but in general we like to see at least eight to ten years of life remaining on the large ticket items. Otherwise, those items are replaced to ensure the investor is ideally not having to make any large repairs within a short period of owning the property. Once under contract on a property, we are happy to share all renovation work that was done to the home from the local team managing the rehab. Our new-builds have completely new everything, of course.