Fees

[Dorian Smith]

Hi All,

I am new to the investing realm and have been getting a mixed bag of "reality checks" from people when dealing with hard lenders etc.

A good friend of mine mentioned that I have to account for permits, tax records fees, plans, etc. If I am doing simple repairs, no structural changes and simple cosmetic upgrades, do we need to account for these aforementioned fees in my rehab budget? Not saying he is wrong because he is involved with more "wow" factor rehabs because of the area he is investing. However, I think for someone like myself who is just starting out, I get cold feet when I hear "watch-out" for stop work order stuff, when my plan is just minor upgrades, etc.

Am I falling short on my analysis? All suggestions are welcomed!