Creating a Detailed Scope of Work for Contractors

The speakers discuss the process of creating a detailed scope of work for contractors before a job starts. They highlight the benefits of using a template and exporting it into Excel for bidding purposes. The chapter also covers tracking labor costs, creating contracts, and validating contractor work.

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When done well, home renovations can help you make a SERIOUS profit on your properties. Whether it’s a simple fix or a complex rehab, having a few systems and processes in place will go a long way toward ensuring your success. The best part? Any rookie can implement them!

Welcome back to the Real Estate Rookie podcast! Today, we’re chatting with graphic designer turned full-time investor, Serena Norris. After a friend introduced her to the book Rich Dad Poor Dad, real estate quickly became Serena’s new obsession. She quit her job to spend the following months networking and attending meetups until, naturally, she found a mentor to show her the ins and outs of investing. At first, she was willing to take on all kinds of mundane tasks and soak up as much information as possible. In no time, Serena was running her own BRRRRs (buy, rehab, rent, refinance, repeat)!

Whether you need help convincing a mentor to invest in you or managing your own home renovation projects, Serena’s got you covered! In this episode, she delivers a thorough breakdown of how to estimate rehab costs and find a good contractor for your home renovations—as well as some of the invaluable systems, tools, and templates you’ll need along the way! If you’re EVER going to do a home renovation (which you probably will), DO NOT skip out on this!

In This Episode We Cover:

How to manage a home renovation project from start to finish

Finding a real estate mentor (and how to provide value to them!)

Systems, processes, and templates that EVERY rookie investor needs

Building the perfect scope of work for your home renovation job

Hiring the right contractor for your project (and how to make sure you’re covered!)

Everything you need to complete a home renovation project remotely

And So Much More!

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