How to Estimate Repair Costs for Your Next Rental Property

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🎙️ Episode 339 - From "soft costs" to contingency funds, Dawn reveals insider tips for accurate budgeting by the item, ensuring your BRRRR renovation or rental projects stay profitable and completed on time.
📄 Show Notes:
www.coachcarson.com/estimater...
▶️ Next Video: How to Analyze a Single Family House Rental Property
• How to Analyze a Singl...
🎬 Topics Covered:
00:00 - Estimating Renovation Costs
01:24 - Budget During Execution Phase
04:31 - Levels of Renovations
05:45 - Soft Costs vs. Hard Costs
07:35 - Estimating Repair Costs Per Square Foot
10:48 - Contractor Budget Spreadsheet
16:18 - How to Decide Scope of Work
19:02 - Contingency Budget
23:44 - Meeting Market Expectations
26:26 - Start with the End in Mind
28:22 - Having Confidence in your Budget
32:56 - Durability vs. Beauty
37:12 - Skills from an Expert
• FREE Contractor Budget Spreadsheet:
docs.google.com/spreadsheets/...
• Dawn's Book - Nailed It: a.co/d/70A4yo7
• Dawn on Instagram: / womanbuilderdawn
• Dawn on Facebook: / dawn.matze
• Dawn's Website: womanbuilder.com
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Опубликовано:

29 июн 2024

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Комментарии : 24

@de_Atavist 8 дней назад

Coach Carson, you are providing SERIOUS value sir! God Bless!

@TheEthanHunt 2 месяца назад

By far the best channel. You are 10x better than Bigger Pockets because you actually get deep into the detail. Big fan of your content!

@CoachChadCarson 2 месяца назад

thank you for the compliment and for watching!

@FourJaysFour 2 месяца назад

This market there’s so little time to view. Would love to hear more tips on red flags to look for as signs there are deeper issues. Dawn’s example of a black mark on the receptacle. Older homes which don’t have as many clean outs to have ability to check for septic issues, etc

@joshengen4480 2 месяца назад

Love the video! This is the kind kf stuff very few real estate channels talk about but its so important. Loved yoir video on preventative maintenance also. Thanks Coach!!!!

@CoachChadCarson 2 месяца назад

I appreciate the feedback! I'm trying to keep it practical and helpful on the stuff we rental investors actually need!

@AberrantArt Месяц назад

This is the EXACT type of video I always hope to find and never do. Thank you for this! Please do more rehab estimate videos and some general pricing and thought process for estimating rehab.

@dawnfoster6530 2 месяца назад

The majority of houses in New England are over 100 years old. Most of us don't want 'newer' homes because they're just not built as well. The 100-yr old homes are solid and usually just need some cosmetic upgrades.

@danielliao8729 2 месяца назад

Thank you Coach! Pragmatic concrete steps for us. Not some abstract concept. I like Dawn’s end in mind concept. This was listed as one of the 7 habits of highly successful people by S. Covey in his famous book by the same title. I also like the spreadsheet. This redundancy keeps things safe and honest. When I see my critically sick patients I have built in check off list in my mind that I always use to prevent a big loss (in this case a life) because gut feelings, first impressions, self-biases always affect care. Same factors affect rehab cost estimates. Thank you for the spreadsheet. I had been constructing one for myslef, but this is already done for me. 🤙🏼

@CoachChadCarson 2 месяца назад

You're right! I love that idea in Covey's 7 Habits book. What works in life works in a remodel😄 Thanks for sharing your experience in the medical field..great reminder about checklists

@laurasamaniego5937 2 месяца назад

Very informative. Thank you so much for sharing

@AberrantArt 2 месяца назад

This is the stuff I LOVE!! ❤ THANK YOU COACH!

@CoachChadCarson 2 месяца назад

So glad! Thanks for the feedback

@AleksandarPopivoda 2 месяца назад

Great content.

@CoachChadCarson 2 месяца назад

thanks for watching!

@nonexistent5030 2 месяца назад

Love this negative cash flow with tenant favoring laws!

@noampaley 2 месяца назад

Thank you very much for this video! This information is very useful for investors, especially at the beginning. Where do you recommend learning more to know how to extend renovation costs?

@CoachChadCarson 2 месяца назад

Glad it was helpful! I like the Book on Estimating Rehab Costs by J Scott. You can find it on BiggerPockets

@joshengen4480 2 месяца назад

I still reference j scotts book from bigger pockets about estimating rehab costs. Its a great resource but its old enough that i think the prices are much lower in the book then in real life... Do you know of any other books thay have more current pricing?

@CoachChadCarson 2 месяца назад

J Scott's book is awesome. It's also the system I have used for years. Dawn's book is more about the remodel and purchase process as a whole and not just estimating rehab costs, but I like her book. And her budget spreadsheet is very helpful.