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Updated about 4 years ago on . Most recent reply
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I need to learn how to rehab houses hands-on: Will work for free
All of the podcasts episodes and audiobooks I have been listening to recently have echoed a similar crucial element to building wealth through long term buy and hold real estate investing: FIND WAYS TO CREATE VALUE. One way to do that seems to be rehabbing distressed properties to rent out.
I have heard the BRRRR strategy mentioned time and time again on the podcast episodes, and I realize it's time for me to get more experience with the first "R" in that acronym so I can increase my comfort level with taking on fixer-uppers. I currently live in north Jersey and would like to work with an investor in the area to get my hands dirty and gain some experience with rehabbing a property. My objective here is to gain some knowledge, so I am willing to work for FREE. I repeat I am NOT interested in getting paid, I just want the experience.
Are there any experienced investors in the north Jersey area with rehab projects going on that would like an extra hand on the weekends?
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Hi @Oleg Enik,
Since I started this discussion a couple of years ago, I BRRR'd 3 single family houses in Indianapolis, IN while living in NJ. As it turned out, I really didn't need to know the ends and outs of how to rehab a house. I put together a team in Indianapolis, IN which included a good contractor and property manager. After reviewing scopes of work and talking with my contractor and property managers about potential rehabs, I learned a great deal. Each time I purchased a house, I was forced to learn a lot to have an understanding of what need to be done during the renovation phase. I made sure I was not afraid or embarrassed to ask questions.