330: The Rookie’s Step-by-Step Guide to Home Renovation Projects w/Serena Norris

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 14 October 2023

⏱️ 71 minutes

🔗️ Recording | iTunes | RSS

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Summary

When done well, home renovations can help you make a SERIOUS profit on your properties. Whether it’s a simple fix or a complex rehab, having a few systems and processes in place will go a long way toward ensuring your success. The best part? Any rookie can implement them! Welcome back to the Real Estate Rookie podcast! Today, we’re chatting with graphic designer turned full-time investor, Serena Norris. After a friend introduced her to the book Rich Dad Poor Dad, real estate quickly became Serena’s new obsession. She quit her job to spend the following months networking and attending meetups until, naturally, she found a mentor to show her the ins and outs of investing. At first, she was willing to take on all kinds of mundane tasks and soak up as much information as possible. In no time, Serena was running her own BRRRRs (buy, rehab, rent, refinance, repeat)! Whether you need help convincing a mentor to invest in you or managing your own home renovation projects, Serena’s got you covered! In this episode, she delivers a thorough breakdown of how to estimate rehab costs and find a good contractor for your home renovations—as well as some of the invaluable systems, tools, and templates you’ll need along the way! If you’re EVER going to do a home renovation (which you probably will), DO NOT skip out on this! In This Episode We Cover: How to manage a home renovation project from start to finish Finding a real estate mentor (and how to provide value to them!) Systems, processes, and templates that EVERY rookie investor needs Building the perfect scope of work for your home renovation job Hiring the right contractor for your project (and how to make sure you’re covered!) Everything you need to complete a home renovation project remotely And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals w/Nate Robbins How to Work LESS and Earn MORE by Putting “Profit First” in Real Estate w/Mike Michalowicz How to Renovate a House — Step by Step Book Mentioned in the Show The Book on Estimating Rehab Costs by J Scott Rich Dad Poor Dad by Robert Kiyosaki Connect with Serena: Serena's Instagram Serena's Email Check the full show notes here: https://www.biggerpockets.com/blog/rookie-330 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie Episode 330 and I figured out right away that he just needed help keeping
0:08.8	everything organized in his mind because he's got so many projects going on. It's like when you're
0:13.2	project managing and you don't have systems going up and so I just started like recording as
0:18.2	much as I could in information, recording like where they're at in the in the construction process,
0:23.0	what they need to do, keep all the tasks organized so that way he's on the road calling me,
0:27.3	hey run through the priorities right now. So that was in the beginning like where the value was
0:33.5	and then just continuing to organize from that so that we could be more effective and efficient.
0:38.3	My name is Ashley Care and I'm here with my co-host Tony J. Robinson.
0:43.1	And welcome to the Real Estate Rookie Podcast where every week, twice a week we bring you the
0:47.6	inspiration, motivation and stories that you really need to hear to kickstart your investing journey.
0:52.4	And if I look a little bit different I'm actually sitting in a hotel room. I've been here since
0:57.2	Sunday and I didn't even tell you this yet, Ash, but there's this idea called a think week
1:03.5	that Bill Gates used to do where he basically like going to a cabin in the woods somewhere and
1:07.0	like lock himself away for a week and just read a bunch of stuff about whatever's like pressing in
1:11.2	his business. So I've been trying that out. I've been here since Sunday. I leave on friday so
1:16.4	really just deep-daven a lot different parts of our business and it's been incredibly helpful
1:19.8	to have like a week with nothing or you kind of like shutting out everything else like your normal
1:24.9	daily activities like you are actually on vacation. Yeah. Yeah. So I literally, I mean outside of
1:29.6	the podcast that really haven't had any meetings or calls this week at all. And I've been like
1:34.3	deleted social media from my phone just so I could like really be focused on it. It's been
1:37.8	it's been an incredibly productive week. So that's why you have a respond to the 5,000 memes in
1:42.4	Real Estate? Yeah. That's what we want. Just kidding. But today we have an incredible guest on today.
	...

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