What is a REHAB property?
REHAB is short for rehabilitation. These are properties that are purchased with the intent of selling for profit after the improvements or rehabilitation has been completed. There are many kinds of REHAB properties. Some properties my only need some cosmetic work. These properties can be ready for resale with just some simple paint, new carpet or perhaps new fixtures. Other types of REHAB require a little more work. Some properties may be damaged by, fire, flood, poor upkeep or even the prior homeowner creating functional obsolescence. These properties are more labor intensive. Some activities may include new kitchens, bathrooms, roofing, and plumbing.
Related Questions
- Can loan funds be used for rehab if the value of the property is higher than the purchase price and the overage will cover any rehab costs?
- Why has Zillow undervalued this property on this listing, it has been appraised before rehab higher?
- Can I use loan money to rehab a property that is part residential and part commercial?
