Rental Renovations 101: Estimating Rehab Costs & Working w/Contractors | Bigger Pockets Video

Episode #507

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Fixing up a distressed property might be the BEST way to add value, whether you’re looking to flip houses, BRRRR (buy, rehab, rent, refinance, repeat), or charge higher rents. But to avoid losing money, you’ve got to know what you’re doing! Today’s guest is an expert in home renovations, and in this episode, she’ll walk you through the entire process!

Welcome back to the “Real Estate Rookie” podcast! Investor Serena Norris has done over 200 deals (including more than 130 flips) in just TEN years, so she knows a thing or two about home improvements! Today, she will show you how to complete a rehab project, step-by-step. You’ll learn about everything from forming partnerships and analyzing rentals to creating a pricing sheet in a new market, building a scope of work, and effectively managing your contractors.

Whether it’s your first time managing construction or you’re looking for systems and processes that will help your jobs run smoothly, you don’t want to miss this renovation masterclass. Serena offers plenty of nuggets that will help you finish your projects on time AND on budget!

00:00 Intro
00:50 Serena’s Portfolio & Partnerships
07:23 Building Your Pricing Sheet
15:55 Creating a Scope of Work
25:24 Working with Contractors
34:08 How to Manage Rehab Projects
43:47 Connect with Serena!