My 1st look at potential investment properties

[Jason Pennington]

I went out with this past weekend for my 1st time and looked at 4 properties all vacant and potential FLIP properties. First of all it was exciting and new and exactly what I expected. The part that was WAY over my head was the calculating the actual CO$T of the rehab. I took notes but again had no clue how much the replacing of the windows would be to adding a kitchen inside of a commercial duplex and turning it into a residential property ( from the selling agent I was able to get quote of 6k from the city turn from commercial to residential).

I'm curious if when looking at potential flipping or future rental properties do you bring the contractor with or do you use a round # ( worst case scenario ) to estimate you rehab cost? I understand there is a difference between the two if you want to keep as rental or you just want to flip it. I'm totally new to REI and I've read 2 & half books so far and have watched a bunch of BP videos and webinars any guidance or specific episodes to watch or any tips would gladly be accepted. Thank you.

My goal is to BRRRR one home. in 2020