New Investor Intro & Looking for Advice

[Lee Stephens]

Welcome BP!

My name is Lee, I just turned 23, and I'm from the suburbs of Chicago. I've been in property management as an admin for commercial RE for close to two years now, which piqued my interest in REI. I'm currently in the learning and saving phase, to invest in either SFH or small multifamily properties within the next 1-2 years. With that being said, I have a couple questions..

1). What are some recommendations on learning how to remodel? I'm really interested in BRRRR, but the remodeling aspect frightens me as I have little knowledge on how to do it & do it cost effectively.

2).  Does anyone have recommendations on learning how to look at a physical/cosmetic issue in a property and knowing who to call? Just trying to build this knowledge so I'm not wasting money & time by calling wrong contractors out. One of my biggest weak points is anything hands on, so any guidance would be appreciated.

Thanks in advance!

[Joshua Feit]

Hi! 

Pay a contractor to come along! An hour with a decent contract on-site will result in an estimate, and that will give you a clear idea of what will be involved in the rehab.

Oh, and whatever they quote you for time and cost, multiply both numbers by at least 1.5!

Cheers,
Josh