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Updated about 4 years ago on . Most recent reply

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3
Posts
2
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Aaron Pues
  • Lender
  • Minneapolis, MN
2
Votes |
3
Posts

First BRRRR Newbie Investor

Aaron Pues
  • Lender
  • Minneapolis, MN
Posted

Hi all! I'm a newbie investor in the Saint Paul, MN area. I just purchased my first BRRRR, it's a duplex that needs some love :)

We received our bid back from our contractor and we were wondering what are some things we could do to lower our rehab costs.  Not cutting corners by any means, but since it will be a long term buy & hold what are some things we could do to save money on materials & labor.  

I know this is a generic post, but I'm just mainly looking for some guidance on the first of many BRRRR's.

Thanks in advance!

Most Popular Reply

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1,522
Posts
1,619
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Tim Swierczek
  • Lender
  • Saint Paul, MN
1,619
Votes |
1,522
Posts
Tim Swierczek
  • Lender
  • Saint Paul, MN
Replied

@Aaron Pues can you list what the current scope of work is? @Jaron Walling's suggestion is a great way to save money but another way is to focus on items that will improve the value or improve rent.  It's very possible that you are using your own bias as to what the scope of work is and an experienced Realtor or appraiser might give you a better feel for the projects you should take on now.

  • Tim Swierczek
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The Tim Swierczek Team - Gold Star Mortgage

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