How to Estimate Your Rehab Costs

James Dainerd gives a world-class breakdown of how he estimates his rehab costs. Ask contractors for photos of their previous work and ask them what the actual project cost was on that. The last thing you can do is just pay them to go walk the job. They're more willing to go and walk those properties for free wanting to continue business with you.

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While driving for dollars, you stumble across a property with back taxes on it. What do you do? Contact the owner about your interest? Check with the courthouse first? Of course, you don’t want to make a real estate faux pas and miss out on a great deal! Fortunately, Ashley and Tony are here to help you navigate the situation.

Welcome back to another Rookie Reply! Today, we’re addressing properties with tax liens and how to potentially get them below market value. We also talk about buying property as a real estate agent and putting your commission towards a down payment. If home renovations are on your radar, you’ll want to tune in to our discussion on estimating rehab costs and pulling permits. Lastly, you’ll learn about tax strategies for flippers, and why hiring a tax planner is a must, even if you’ve yet to buy your first property!

If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).

In This Episode We Cover

Buying a property with back taxes on it and where to find tax lien properties

How to get paid TWICE by wholesaling a property to yourself

Estimating material and labor costs before you commit to a renovation

The best tax strategies for flippers (and why you need a tax planner!)

Whether you can work closing costs into an FHA loan and low/no down payment loan options

Why pulling permits is a MUST if you plan on doing a rehab, renovation, or house flip

And So Much More!

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