Welcome to part two of a rehab estimation masterclass with real estate mogul James Dainard! As mentioned in part one, James has created a multi-level brokerage where he has been involved in 3,000 transactions. His excess experience has allowed him to create an almost scientific process for his flips. In today’s podcast, James builds off part one and gives you a step-by-step guide on how to emulate the process that has given him his success.
James goes over what and who to bring when visiting a property, closing on a property, writing a contractor contract, and finalizing a project to perfection. Each process includes tedious details that may seem daunting at first, but as the saying goes, the devil is in the details. While the initial steps may seem meticulous, once you begin making the process repeatable and do it continuously, it’s second nature. James perfected his flipping and renovation processes through trial and error, and if you listen closely you can avoid commonly made mistakes and have an advantage over most new investors. To be the best you have to learn from the best—so listen closely!
Ashley:
This is Real Estate Rookie, episode 166.
James:
Yeah. There’s all these signs that you can do as you’re working with your team members. If a contractor is trying to charge you for that or they won’t give you pricing breakdown, probably not your guys. That’s a sign, stay clear from that person. You need to work off facts.
Ashley:
My name is Ashley Kehr, and I’m here with my co-host, Tony Robinson
Tony:
Welcome to the Real Estate Rookie Podcast, where every week, twice a week, we bring you the stories, the motivation, the inspiration to get you started as a real estate investor, or keep you going if you feel like stopping. Ash, what is going on today?
Ashley:
Today, we are doing part two of rehab and construction cost series with James Dainard. If you guys haven’t listened to that, go and listen to that episode released on Wednesday. We are here now…