Real Estate Disaster Turned Into Rehab Success in Tampa, Florida

I want to share with you a brief story about how Graystone Development saved a first time real estate investor from an un-motivated and incompetent general contractor. A couple months ago my broker Jorge Vazquez sent me to what seemed to be another daily repair quote for someone needing our services. What a mess. The whole project was chaos, poorly done and low quality materials where used. Every aspect of the rehab was randomly started but none of it was close to completion. Typical of a contractor that has no intention of finishing the project any time soon, but wants to remain with the project, which would mean no turning back. Now you are stuck and hopeless with an astronomical mess. But this wasn’t to be the case in this real estate challenge.

Graystone sent crews to assess repair cost and brainstorm solutions. The day we started was like a swarm of bees took over the property and so the party began. It took under 60 days to complete the rehab. The previous contractor had taken the better part of a year and nothing was nearly close to completion. We had to deal with poorly installed floors that were not even halfway done. The bathroom floor plan in master bedroom addition was not to city code among many other disasters. This is why it is crucial to have a contractor that knows what they are doing and counts with the best team of professionals that truly understands how investments work; has the sense of urgency in getting a property back in market for sale or rent, as time is money and you can burn potential profits by paying more months of property insurance, potentially high loan fees, utilities and taxes than you really need to.

After having completed the project and conducting all inspections and passed, we sat down with our investor to talk about different strategies on how we planned to market his investment property. I am proud to say it took longer talking about selling it than it actually took for us to sell. We had the property under contract in under 1 week. This type of first time investor’s nightmares can easily be avoided with guidance. Sometimes trying to play orchestra man can be devastating to your profits if you are starting out in the business.

Let Graystone Development assess your situation at whatever stage you are in your investment, your personal home remodeling or rental rehab project. Better yet let’s come up with a plan of attack beforehand and assure a successful investment. With Graystone, you invest and we do the rest.