Adding contingencies to rehab estimates

Many rookies are freaked out by the thought of tackling rental renovations and things going south. But what if there were ways to lower your risk, save money, and almost guarantee success? Today’s guest graduated from “chaotic” rehabs to better, cheaper, faster house flips—all because she implemented the tools and tips you’re about to learn!

Welcome back to the Real Estate Rookie podcast! Today, Serena Norris is a master house flipper, having completed over 130 projects and $55 million in volume. But she didn’t get there overnight. In this episode, she winds the clock back to the beginning of her real estate investing journey, when every project came with headaches, delays, and surprise costs. When she’d finally had enough, Serena adopted tools and templates that now keep her projects organized, on track, and within budget.

What are the first systems every real estate business needs? What’s the best project management software? Should you hire a general contractor for your renovations? How do you create an accurate scope of work? Stay tuned as Serena answers all of these questions and more!

In This Episode We Cover

Crucial tools and templates Serena uses in her own real estate business

Traveling the world while flipping houses by having the right systems in place

Hiring a general contractor versus self-managing your home renovations

How to (accurately) estimate rehab costs and create your project budget

Two “non-negotiables” for all rookies before taking on rehab projects

And So Much More!

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