Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 2 years ago,
Need opinion from experienced BRRRR expert!
Hi everyone
I'm starting my BRRRR journey with my business partner. We are currently starting out our first 'B' phase and using BRRRR calculator on multiple properties a day trying to get in a good rhythm of being able to confidently and quickly run numbers. While doing so, we realized that our current weakness is estimating for renovation costs. I would love to hear from you about any of the followings:
1. What is some of your "tricks" or "rule of thumb" when estimating renovation.
2. What are your favorite/go-to ways to find contractors for renovations that checks off on credibility/efficiency/pricing
3. What are the type of renovations that you recommend others to avoid due to: taking too long / expensive / not worth the renovation?
4. What are your go-to cost effective renovations that appreciates your property the most?
5. What is the typical timeline to expect or use as a guideline when planning for renovation?
6. Please feel free to share any other tips, tricks, opinions, or any other comments relating to this !
Thank you so much in advance for your time and for sharing your thoughts. I'd also love to connect with you guys and be more involved in this community to share ideas and experiences as I continue on my journey!