Real Estate Investing with Coach Carson #458: Don't Start a Rental Remodel Until You Do This First
Nov 10, 2025
In this discussion, Tracy Royce, an experienced investor and remodel expert, shares her insights on avoiding common remodeling pitfalls. She emphasizes the importance of data over emotions when starting a project. Tracy advises focusing on cosmetic to mid-level rehabs as a beginner, using comparables to determine value, and creating detailed scopes of work to enhance accuracy. She also suggests sticking to your strengths and cultivating respectful relationships with contractors for efficient project management. Finally, she introduces quick screening methods for estimating rehab costs.
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Analyze Before You Design
- Do underwrite remodels with spreadsheets and a walkthrough guide before design choices.
- Treat rehabs analytically first and add aesthetics only after profitability checks.
Start With Your Buy Box
- Check whether the property fits your buy box for scope, location, and price before investing time.
- If it doesn't fit, pass and wait for a better opportunity.
Let Comps Define The Output
- Use comps to define the market-appropriate scope and ARV before planning work.
- Distill common features from comps into a repeatable template for your rehab.