"Because we're studs," jajajajajajajajajaja........ I love fire damaged houses too. I go to the seller and explain all the costs, permits, inspections etc. Get them down on the price even further than what they were asking for. We get them as cheap as we can, that's where you make the money. Very good info Sir. Keep preaching the gospel. Oh, and those asbestos houses we do the same.
I watch BP daily, and love all the content, however this type of content where you dig into the real stuff where the hands get dirty, before and after pics and results of flips showing them like this, really gets the juices flowing. Thx for the great episode, can't wait for the next part / Wahid from Sweden 🇸🇪
I heard so many time people who said a house was only got to be teared down when all it needed was a paint job... :) Also people buying houses who have foundation issues without even thinking twice. So many ignorant people.
I think one of the biggest problems with this is that people don't know enough about what they're looking at. They don't know how to tell if a roof has been patched or replaced by a professional.
@@bosellibrothersrealestate A lot of people go by the looks of things. It can look good but be hiding a hideous structural failure. If the foundation, roof, structure is good, anything else is cosmetic. It's a matter of know how much things costs too. A new foundation is 50k+, a new paint job is much less...Like anything, demystifiying is key. Visiting lots of houses, going in the attics, doing "house archeology" :) How things were done, badly, how you can fix them etc.
Thank you for this Tarl! This is exactly the kind of information I've been looking for. I've been following my sub contractors around every time I need repairs on my current properties to try to get this kind of information. Can't wait for part 2!
Big thing is don’t ever listen to your agents estimates. We looked at multiple house that had serious issues and they blew it off as a few hundred here, few hundred there
Amazing and helpful. Would love to see more of these kind of videos on BP about rehabbing and controlling costs! Thanks so much! Among my favorite BP videos to date!
I absolutely loved this video, so much fun and so educational! Im also a member of bp. Im hoping to get into real estate someday. Ive been broke or living on 30k a year for a decade and i just want a better life for my family. Cant wait to see part 2! Your videos are the best.
I have the book and unfortunately it's way out of date based on inflation. Anybody have a more current resource? An online guide updated regularly by market perhaps?
I work in construction as a PM. We use a booked called RSMeans and it has every equipment possible with labor cost and materials. Then you assume contractor margins on top of that.
@tannerstafford16 thanks for the tip! There's a lot of options in there! Probably the $1000 books are out of reach for a newer RE investor, I do see the 2023 contractors pricing guide for residential repair and remodeling costs, have you used that one before? At $100 it's affordable. For a new investor, it doesn't make sense to estimate down to a super granular level, costs PSF with a material cost range are ideal, i.e. is the tile $4 or $10 psf for materials, but what is installed cost for labor and all other installation materials. Something like that I think would be helpful
Great information, I learned a lot. I purchase the book by J. Scott. Haven't read it yet. It's amazing what can be done to houses that in distress. Now I need to go to part two. Thanks for sharing.
The Book About Estimating Rehab Costs - how out of date would the pricing be in today's economy? I'm guessing many things would be lriced much different today, correct?
Man...wish I could get someone to look at a property here in Asheville a wholesaler has listed. The neighborhood is awesome that it's in but it looks bad.
Hello Mr. Greene. I live in Burnsville and run a handyman/ remodel business. Sitting inside today as it rains, watching BP. I stumbled upon your comment. Not sure what you're looking for; but maybe you'd like to reach out if you'd like an experienced set of eyes on a project? If so, I can send you contact info. Fly high..
