BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 4 years ago on . Most recent reply
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Newbie looking for rehab advice
Hi everyone, I am looking for advice for rehabs. I am interested in the BRRRR strategy, so this is something I need to either learn, or find someone to help me with. I don't have the skill to look at a property and know what changes need to be made to make it look/ function better. I don't have a great idea of what projects should cost. I don't have a great idea of how long projects should take.
I have watched videos, listened to podcasts, and read books and definitely gained some good general knowledge. However, I still don't feel completely confident with managing rehabs on my own.
Does anyone have any recommendations for resources that will help me improve my rehab skills/ knowledge?
Or better yet, does anyone have recommendations for how to completely delegate the rehab process through a project manager or some other method?
I appreciate all feedback!
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- Rental Property Investor
- Boulder, CO
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@Matt Burgess Have you checked out David Greene's BRRRR book? That will get you started on the BRRRR process (I also have a guide on my site to help you understand how to use PM to delegate the construction piece).
For most rehabs that are cosmetic or have basic mechanical needs (HVAC, water heater, roof, etc) the PM can handle a make-ready if their team is big enough or coordinate with an outside contractor for a fee (~5-10% of the construction budget). PM me if you have Q's!