The Rookie Blueprint for Money-Making Home Renovation Projects

The Rookie Blueprint for Money-Making Home Renovation Projects

Episode #330

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!

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Join BiggerPockets for FREE 👇
https://www.biggerpockets.com/signup?utm_source=owned_media
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Join the Real Estate Rookie Facebook Group:
https://www.facebook.com/groups/realestaterookie
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Find an Investor-Friendly Agent in Your Area:
http://biggerpockets.com/agentmatch
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Find Investor-Friendly Lenders:
http://biggerpockets.com/findlenders
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Books Mentioned in This Episode:
“The Book on Estimating Rehab Costs”: https://store.biggerpockets.com/products/the-book-on-estimating-rehab-costs?utm_source=owned_media
“Rich Dad Poor Dad”: https://store.biggerpockets.com/products/rich-dad-poor-dad?utm_source=youtube&utm_medium=description&utm_campaign=none
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The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals w/Nate Robbins:
https://www.biggerpockets.com/blog/rookie-326?utm_source=youtube&utm_medium=description&utm_campaign=none
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How to Work LESS and Earn MORE by Putting “Profit First” in Real Estate w/Mike Michalowicz:
https://www.biggerpockets.com/blog/rookie-320?utm_source=youtube&utm_medium=description&utm_campaign=none
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How to Renovate a House — Step by Step:
https://www.biggerpockets.com/blog/how-to-renovate-house?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Serena:
Instagram: @serena.claire or https://www.instagram.com/serena.claire/
Email: scalewithserena@gmail.com
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Connect with Ashley and Tony on BiggerPockets:
Ashley: https://www.biggerpockets.com/users/echopm?utm_source=youtube&utm_medium=description&utm_campaign=none
Tony: https://www.biggerpockets.com/users/tonyr75?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Ashley and Tony on Instagram:
Ashley: @wealthfromrentals or https://www.instagram.com/wealthfromrentals/
Tony: @tonyjrobinson or https://www.instagram.com/tonyjrobinson/

Show notes at: https://www.biggerpockets.com/blog/rookie-330?utm_source=youtube&utm_medium=description&utm_campaign=none

00:00 Intro

03:18 The Real Estate Obsession

09:26 Finding Your Mentor

20:03 Building a Scope of Work

33:36 Hiring Contractors 101

42:3¨7 Systems EVERY Rookie Needs

51:38 Remote Rehabs

58:00 Do THIS Before You Start!

01:02:22 Connect with Serena!


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