Most of the big, profit-busting problems you hear about in rehabs can be avoided simply by having a super-clear agreement with the contractors before work starts. But that means having a detailed scope of work that includes a breakdown of what work is being done, what each item costs (so that when one changes, the whole budget doesn’t change), who’s doing it…and agreeing UP FRONT to things like when the contractor will be paid (hint: don’t give big down payments, and never let contractors “get ahead” in what you’ve paid vs. what they’ve completed). Learn how to control your rehabs and turnovers better, here.

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