Behind the Scenes of a Renovation: Part 2 - Episode 514
Investing in Real Estate with Clayton Morris | Investing for Beginners
Clayton Morris
4.1 • 1.1K Ratings
🗓️ 28 August 2019
⏱️ 10 minutes
🧾️ Download transcript
Summary
In part 2 of our Behind the Scenes of a Renovation Series, I'm taking you back to my rental properties to assess the rehab process. You'll see various stages of renovation throughout the investment properties, and get a look at the teams at work!
Additionally, we're going to run the numbers, take a look at what this project costs, and talk about unforeseen costs. If you've ever wondered what a rental property renovation is like, costs and all, this episode is for you.
This episode of Investing in Real Estate is sponsored by Fund&Grow. Fund&Grow helps investors access business lines of credit with 0% interest. For $500 off your startup fee, visit morrisinvest.com/funding.
Book a call with our team: https://goo.gl/qr6iat Show notes & video: http://morrisinvest.com/episode514
Transcript
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| 0:00.0 | Hey everyone Clayton here. This is part two of our behind the scenes of a renovation series. |
| 0:18.6 | Driving back now, it's about two weeks after we did part one, almost two weeks to the day, since we did part one of our series, |
| 0:26.0 | walking through about four properties right now that we are renovating. |
| 0:30.0 | Some are in worse shape than others, but what today I want to do is follow up with our contractors, see how much work has been completed. |
| 0:38.0 | I know that things are coming along really nicely. We put in new custom windows. We have a special order those because of the size. |
| 0:46.0 | We had to do some additional things on the siding that we discovered, some problems. |
| 0:50.0 | We're going to be building a concrete ramp for a tenant who wants to move into the property. |
| 0:56.5 | She's in a wheelchair. |
| 0:57.9 | So we're going to build that for her. |
| 1:01.2 | And just following up. |
| 1:02.6 | Plus, I want to give you some real numbers here. |
| 1:04.2 | I want to show you actual rehab numbers |
| 1:07.1 | from our contractors that we are paying to do this job. |
| 1:10.4 | So we will go through itemized list of everything that we're doing on this scope of work. |
| 1:16.2 | Come on, let's get to the property. |
| 1:20.0 | The siding is already coming together on this property and redoing the roof. |
| 1:27.0 | Let's go check it out. So you can see this was the old side putting on all the new side and all the new |
| 1:38.9 | custom windows are in. Watch out for roof and nails. New windows looking good. |
| 1:45.0 | Hey everybody. |
| 1:50.0 | Big pallets of siding already here. Well, remember this from Remember this |
| 2:15.0 | from a few weeks ago? |
| 2:19.0 | amazing how quickly with the whole team working on these things |
... |
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