Behind the Scenes of a Renovation: Part 1 - Episode 511
Investing in Real Estate with Clayton Morris | Investing for Beginners
Clayton Morris
4.1 • 1.1K Ratings
🗓️ 21 August 2019
⏱️ 9 minutes
🧾️ Download transcript
Summary
Have you ever wondered what it’s like to transform a distressed rental property into a fully functioning home for tenants? In this series, I'm taking you behind the scenes of a rental property renovation.
In part 1, you'll see a bit of the neighborhood, and what the property looks like during this stage of repair. We'll talk about contractors, tenants, and more. Come along for this renovation tour!
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Book a call with our team: https://goo.gl/qr6iat Show notes & video: http://morrisinvest.com/episode511
Transcript
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| 0:00.0 | Hey everyone. Today is behind the scenes of a renovation project. So we're going to be taking you through step by step the process that I'm going right now through on four different rental properties. |
| 0:24.7 | We're driving to four of them right now where contractors just started this morning. |
| 0:31.8 | So we're doing demolition tearing out cabinets, putting in new flooring. |
| 0:37.1 | I've got four properties kind of side by side that I bought because I'm going to show you |
| 0:40.9 | the numbers that we spent and what we're planning on doing on each of these properties. |
| 0:45.8 | If you're new to the channel, please subscribe. This is a channel where we help you build financial freedom and passive income. |
| 0:52.4 | What we teach you to do is buy and hold. financial freedom and passive income. |
| 0:52.8 | What we teach you to do is buy and hold real estate. |
| 0:56.2 | We buy real estate, we fix it up. |
| 0:59.0 | In today's episode, we're gonna be walking through step by step |
| 1:01.6 | what that exactly looks like. |
| 1:03.7 | All right, let's go meet the contractors because they are fully engaged in the process right now. |
| 1:10.0 | You know, I, and these are the types of neighborhoods what I like to buy so transitional neighborhoods. It might not look perfect yet, but you're starting to see a lot of movement. |
| 1:17.8 | Look, the school bus pulling up kids getting off the school coming home at the end of the day. You know if I can help transform this |
| 1:23.4 | neighborhood in some small measure I'm putting on brand new siding putting on a new |
| 1:27.2 | roof getting some great tenants in this property that's what excites me. I own |
| 1:31.8 | both sides of this it's It's not really a duplex because |
| 1:36.3 | the two different deeds, but it's it's set up like a duplex. So you can see the neighborhood here. There's other ones similar to this. |
| 1:44.0 | But here is the property. |
| 1:45.0 | This is the first of the four that we're going to renovate. |
| 1:49.0 | So among the things that we're going to be doing on this property |
| 1:52.0 | are putting siding on all of |
... |
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