BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated 7 months ago,
How to start out on a BRRRR
Hello everyone.
I am set to close on my first property (4plex) and am looking for advice on rehabbing the place. I did trim for years but besides that I’m not the most handy guy there is.
I got quoted about $15-$20k for a rehab on just one of the units and that just doesn’t fit my budget whatsoever. I’m hearing that’s pretty high so I’m looking to see if any of you experienced investors have any advice.
A little info on the property. The unit I will be renovating is a 3 bed, 1 bath and 750sqft. Would need new floors, cabinets, stove, fridge, installing a ceiling in the kitchen (currently a drop ceiling), trim, and running a water line to be able to install a washer/drier.
How would you tackle this? Would you try to do everything yourself or hire it out? I worry that taking on more myself and figuring it out as I go will take longer and end up possibly even costing more than hiring it out. If anyone has any recommendations on contractors and handymen in the area too I would love to get some more references. Thanks!