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Avoid blowing your budget on a real estate rehab - Podcast Episode 12
This is a powerfully important episode for real estate rehabbers - whether you’ve got tons of experience or are just getting started. That’s because this episode covers one of the most vital parts of your rehab business - the budget. Joe Evangelisti goes off the cuff today addressing some of the things you should do, some things you should not do, and the things you need to keep in mind as you set a budget for your rehab and stick with it. You’re going to learn a ton from this episode.
How much is this real estate rehab going to cost? It’s the one issue that never goes away when you get involved doing fix and flips. It’s the budget that will make or break your real estate business. That means you’ve got to know how to figure a rough budget - even before you are able to make an offer on a home. If you don’t know how to do that, you’ll wind up bidding on properties you shouldn’t or cutting yourself short when it comes to profit margins. That’s just a taste of what you’re going to hear on this situation.
Do you know what to look for in regards to the exterior of a home you’re considering rehabbing? How important is the roof condition? What about the siding and the paint? What about basement issues and weatherproofing? Which of those should be first priority and which should be lower on the priority list? Do you know the answer to these exterior question? If you don’t you need to listen to this episode. Even if you do, you’ll learn something new or get a fresh perspective from what Joe has to share.
Many rehabbers go crazy on the inside of the house, making major renovations in places that are going to cost them way more than they should spend. Do you know how to make the right decisions that will enable you to keep your profit margins acceptable? Do you know when you need to rip out and replace a kitchen and when you shouldn’t? What about electrical and plumbing issues? Do you know what to look for? Do you know how to make those decisions? In this episode Joe will give you his own nuts and bolts perspective on what to watch for and what to consider when you put together your budget for a rehab.
What are the big ticket items you have to watch out for when you’re putting together a rehab budget? Do you know how to accept bids in a smart way? Do you know when you should get a general contractor (GC) and when you shouldn’t? How do you deal with them in a way that keeps the work on schedule and within budget? How do you integrate your personal assessment of the property with the bids you’re receiving to make sure the budget is adequate? Grab a pen and paper to take some notes on this section of the episode, Joe’s going to walk you through those things in detail.
Finally, what are the mistakes that new flippers make over and over?
All on this episode of The Flip King with Joe Evangelisti!
LINKS MENTIONED IN THIS EPISODE
[email protected] - contact Joe to let him know you’ve left a review on iTunes and get your free gift.
Check out our giveaways - www.TheFlipKing.com
OUTLINE OF THIS EPISODE OF THE FLIP KING
What is a rough budget?
How to do a walk-through of the property to figure out a good budget.
What to look for on the exterior of the property in light of the climate and situation the house is in.
Interior items to look for and consider when approaching a possible rehab project.
Major issues to watch out for.
How to decide on a bid, hire a contractor, and know when you should hire subs or a general contractor.
What are the common mistakes house rehabbers make?
What are the things you can include that can make a little extra “bling” to the house without making the budget skyrocket?
How to reuse what’s already in the house when possible.
What are the big ticket things you may not have to upgrade?
Why you should get multiple plumbing and electric bids on your rehab projects?
Don’t forget the permits - and why you shouldn’t skip over them.
#Realestaterehab can kill your profit margin. Avoid busting the budget on this episode http://theflipking.com/?p=207
What are the major issues that can kill your #realestaterehab budget? Find out here http://theflipking.com/?p=207
When should you upgrade a big ticket item on your #realestaterehab? Find out here. http://theflipking.com/?p=207
How to establish a budget for your #realestaterehab. This episode of #theFlipKing http://theflipking.com/?p=207
Get permits for your #realestaterehab to avoid costly re-dos. Find out why here http://theflipking.com/?p=207
View all episodes
By Joe Evangelisti
4.9
3434 ratings
This is a powerfully important episode for real estate rehabbers - whether you’ve got tons of experience or are just getting started. That’s because this episode covers one of the most vital parts of your rehab business - the budget. Joe Evangelisti goes off the cuff today addressing some of the things you should do, some things you should not do, and the things you need to keep in mind as you set a budget for your rehab and stick with it. You’re going to learn a ton from this episode.
How much is this real estate rehab going to cost? It’s the one issue that never goes away when you get involved doing fix and flips. It’s the budget that will make or break your real estate business. That means you’ve got to know how to figure a rough budget - even before you are able to make an offer on a home. If you don’t know how to do that, you’ll wind up bidding on properties you shouldn’t or cutting yourself short when it comes to profit margins. That’s just a taste of what you’re going to hear on this situation.
Do you know what to look for in regards to the exterior of a home you’re considering rehabbing? How important is the roof condition? What about the siding and the paint? What about basement issues and weatherproofing? Which of those should be first priority and which should be lower on the priority list? Do you know the answer to these exterior question? If you don’t you need to listen to this episode. Even if you do, you’ll learn something new or get a fresh perspective from what Joe has to share.
Many rehabbers go crazy on the inside of the house, making major renovations in places that are going to cost them way more than they should spend. Do you know how to make the right decisions that will enable you to keep your profit margins acceptable? Do you know when you need to rip out and replace a kitchen and when you shouldn’t? What about electrical and plumbing issues? Do you know what to look for? Do you know how to make those decisions? In this episode Joe will give you his own nuts and bolts perspective on what to watch for and what to consider when you put together your budget for a rehab.
What are the big ticket items you have to watch out for when you’re putting together a rehab budget? Do you know how to accept bids in a smart way? Do you know when you should get a general contractor (GC) and when you shouldn’t? How do you deal with them in a way that keeps the work on schedule and within budget? How do you integrate your personal assessment of the property with the bids you’re receiving to make sure the budget is adequate? Grab a pen and paper to take some notes on this section of the episode, Joe’s going to walk you through those things in detail.
Finally, what are the mistakes that new flippers make over and over?
All on this episode of The Flip King with Joe Evangelisti!
LINKS MENTIONED IN THIS EPISODE
[email protected] - contact Joe to let him know you’ve left a review on iTunes and get your free gift.
Check out our giveaways - www.TheFlipKing.com
OUTLINE OF THIS EPISODE OF THE FLIP KING
What is a rough budget?
How to do a walk-through of the property to figure out a good budget.
What to look for on the exterior of the property in light of the climate and situation the house is in.
Interior items to look for and consider when approaching a possible rehab project.
Major issues to watch out for.
How to decide on a bid, hire a contractor, and know when you should hire subs or a general contractor.
What are the common mistakes house rehabbers make?
What are the things you can include that can make a little extra “bling” to the house without making the budget skyrocket?
How to reuse what’s already in the house when possible.
What are the big ticket things you may not have to upgrade?
Why you should get multiple plumbing and electric bids on your rehab projects?
Don’t forget the permits - and why you shouldn’t skip over them.
#Realestaterehab can kill your profit margin. Avoid busting the budget on this episode http://theflipking.com/?p=207
What are the major issues that can kill your #realestaterehab budget? Find out here http://theflipking.com/?p=207
When should you upgrade a big ticket item on your #realestaterehab? Find out here. http://theflipking.com/?p=207
How to establish a budget for your #realestaterehab. This episode of #theFlipKing http://theflipking.com/?p=207
Get permits for your #realestaterehab to avoid costly re-dos. Find out why here http://theflipking.com/?p=207