However, he asked me to sign a one-year Exclusive Right to Represent agreement, as presented to him by his brokerage.His interpretation is that it applies only when he materially assists me, but I think the boilerplate brokerage language he was given reads much more broadly:"If during the term of this Agreement Buyer enters into a contract for the purchase of Property through the services or efforts of the Broker or Buyer’s Brokerage Firm, or by or through any other persons during the term of this Agreement" (emphasis mine).My concern is that, under my interpretation, if a fellow real estate investor wants to unload a property or if I get pointed to an opportunity by a former agent, colleague, or friend, this agreement could create an obstacle to moving forward with the deal.In the end, I didn’t sign.

Rehab costs and ARV (After Repair Value) are key parts of evaluating deals, so it’s great that you’re diving into these concepts early.For rehab costs, creating a rough estimate starts with understanding the scope of work and local pricing for materials and labor. 

I have just started in a 3-day training for the Lee Arnold broker certification program and thus far just completed the online material required for preparation. 

If I have the time after dinner to run to Lowe’s , and deliver material at 10pm, I didn’t have to ask if that’s ok.

Some of the materials we choose and asked him to pick up (such as flooring) he replaced with low quality materials, I assume to keep more of our money for himself. 

When you add purchase price, carrying costs for at least 6 months, materials, labor, real estate agents costs and taxes, do you have at least a projected 10% profit?

I'm debating sponsoring other areas to hang my material up.What ways do you like to promote your business?

Hey @Brad Roche - We do a significant amount of renovation loans (both Fannie May & FHA) here in Chicago and prefer the Homestyle loan only because it's less stringent on the borrow about what they have to repair, and they provide the general contractor a material draw at closing which helps the project start on the right foot.I thought the minimum down payment was 5%.

With the fires, labor and materials are going to be in short supply.

Insurance companies are taking a close look at building materials, quality, and updates.