Fix and Flip Rehab knowledge

[Jesse McMullen]

Hello BP,

I feel like I lack a lot of knowledge in construction, estimating jobs, order of operations, etc. I was wondering if any seasoned fix and flip investors know of any classes, book, blogs, or anywhere I can get more informed on the process. I have a plan to pay some contractors to walk properties with me and give me the run down on line items, and how to  understand the process but I feel like I could be learning more. Any help is greatly appreciated. Thanks a lot for any help in advance.

[Timothy Hero]

Most is gained from experience. Sure, you can read countless books, but it's sort of like college. So many students graduate with degrees only to struggle their first 2-3 years in the real world in their career. There's a difference between reading and doing.

Besides, a book might estimate this costs to repair a roof, but the author can be basing their numbers off a different area and a different market from years ago. I can tell you don't spend more than $3/ft for tile work in labor. But that's for South Florida. In California, it might be a minimum $5/ft.

I'd say your best bet is to partner with a seasoned investor your first 2-3 deals. It'll save you time and money, as well as it being a learning curve.

Hope this helps!