Welcome to part one of a rehab-estimation masterclass with real estate mogul James Dainard! James has earned his title by being involved in 3,000 transactions over the past fifteen years and creating a multi-level real estate brokerage. He has mastered the art of estimating rehab costs which has allowed him to invest on a seriously large scale. Currently, he is working on thirty flips and has 400 apartment doors under construction, so not only has he had past successes, but he is consistently learning and adjusting to the rapid changes of the market. James is an investor to not only learn from but to emulate, and today he gives a step-by-step guide to do just that.
James breaks down renovation steps like building a team, getting a budget sheet together, and vetting workers, contractors, and properties in vast detail. The underlying theme behind each of his steps is meticulous preparation. As an investor, one of the best things you can do for yourself is to prepare and get rid of any variation in your processes. By perfecting his preparation processes, James has been able to minimize variation and save himself in the long run. Do yourself a favor and listen to these next couple of podcasts intently— it could save you serious time, headache, and money in the future!
In This Episode We Cover
How to find a contractor that aligns with your project’s budget and goals
How to vet contractors so your time (and theirs) is respected on a job
The “plug and play” method and how to break down your scope of work
How to organize your budget sheet and estimate rehab costs efficiently
What it takes to master flipping, BRRRRing, or any home renovation
And So Much More!
Links from the Show
Ashley's Instagram
Tony's Instagram
BiggerPockets Podcast 338: From Red Robin Waiter to 250 Units (Using the MLS) with James Dainard
BiggerPockets
Real Estate Rookie Podcast
Connect with James
James's Instagram
James's Youtube Channel
Check out the full show notes here: https://biggerpockets.com/blog/rookie-165
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Real Estate Rookie