Real Estate Rookie

371: Rookie Reply: Estimating Rehab Costs, Finding "Hard Money," & Tax Planning w/Natalie Kolodij

7 snips
Feb 23, 2024
Tips on estimating rehab costs, finding hard money lenders, and discussing tax planning in real estate investing. Learn about tracking passive losses, tax benefits in partnerships, and the irreversible mistake to avoid on your tax return.
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ADVICE

Estimating Rehab Costs

  • Consult Jay Scott's book on estimating rehab costs for detailed guidance.
  • Get bids from multiple contractors to compare estimates and learn about the process.
ANECDOTE

Learning Construction

  • Ashley Kehr's partner learned construction by observing contractors and asking questions.
  • Kara Beckman also used this approach, and it helped her to learn if work was done correctly.
ADVICE

Estimating After Repair Value (ARV)

  • To estimate ARV, find similar properties sold within 90 days, considering style and proximity.
  • Don’t compare ranches to new constructions; start with a small radius for comps.
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