Overseeing Rehab in Pittsburgh
I'm a long distance real estate investor who is looking to BRRRR in Pittsburgh and having a tough time getting started. I was wondering what other investors do to oversee their rehabs when long distance investing in Pittsburgh? The PM i found said that they will oversee the rehab but for 10 percent and my agent said that he will do it for 7-8 percent. When it comes to a significant rehab >$50k both of those fees seem like a lot. Can anyone share what they have done to oversee a renovation or verify what their contractor has done?
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We invest in Pittsburgh as well, out of state investors (located in Portland OR). Here is the honest truth: you need a partner on the ground. Someone that has a vested interest in your success. If you are just buying a few, than a real estate agent might be a good choice. But if you are buying in volume, you need a partner. We learned that the hard way.