Real Estate Rookie How to Keep Tariffs from Derailing Your Renovations (Rookie Reply)
May 23, 2025
Garrett Brown, a short-term rental expert from Bigger Stays, joins to share insightful strategies amidst rising tariffs and material costs. They explore how the BRRRR method can still succeed in the current market. Listeners will learn how to identify ideal short-term rental markets and find valuable data. The discussion also tackles what to do when sellers try to raise prices just before closing, offering practical negotiation tactics and legal insights to avoid losing money. Brown's expertise shines as he navigates these real estate challenges.
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Short-Term Rental Data Tools
- Use short-term rental data platforms like RABU, AirDNA, and Price Labs to analyze potential investments.
- Consider insurance costs and market suitability before investing in Florida or similar markets.
Manage Rising Renovation Costs
- Get multiple labor quotes and use bid rooms at stores like Lowe's for materials to save money on renovations.
- Negotiate purchase price downward to balance rising material and labor costs from tariffs.
Siding Quote Savings Example
- Ashley received two siding quotes: one was $21,000 and the other $12,000, highlighting the importance of multiple bids.
- She ensured the quotes were comparable to avoid compromising quality while saving costs.