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Updated about 1 year ago on . Most recent reply

User Stats

4
Posts
2
Votes
Samuel Longbotham
  • Investor
  • New Paltz, NY
2
Votes |
4
Posts

Books or Advice on managing contractors/renovations

Samuel Longbotham
  • Investor
  • New Paltz, NY
Posted

Currently learning as much as I can on long distance investing. Area i'm lacking in is estimating repairs and experience for managing contractors for a value add property when not doing it in person. Any books/recommendations is appreciated!  

Most Popular Reply

User Stats

74
Posts
29
Votes
Ziad Hamati
  • Lender
  • Houston
29
Votes |
74
Posts
Ziad Hamati
  • Lender
  • Houston
Replied

I do not think books will help that much to be honest. Will have to learn on the job, or partner up with an experience investor to learn from him.

I also lack experience in estimating repairs since i have only done couple of flips, but:

1. Talking to several contractors will give you an idea if someone is overpricing or not. 

2. Definitely asking a lot a question to contractors

3. Reaching out to investors in the area to get their input.

When it comes to rehabbing, you have to be there physically or hire someone to oversee. Cant just trust contractors 

Sorry not a straight forward answer i know :(

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