How to Calculate Renovation Costs on Your Rental
Вставка
- Опубліковано 11 чер 2024
- Pace Morby is joined by Kevin Choe and Eric Bahlman to walk through a duplex Kevin bought subject to/seller finance. Watch as Kevin and Eric calculate renovation costs to see who can guess the closest number to Pace’s estimate as an experienced contractor. Throughout the walkthrough, Pace provides tips on specific renovation and furniture improvements that increase the value of the property.
Since Kevin is a fairly new investor looking to buy more properties, Pace advises on what his team does to renovate in a modern, yet cost-effective way. When you purchase a house that needs renovation work, it’s important to keep in mind that people will be LIVING in the property. You shouldn’t skimp on renovations. The after-repair value (ARV) reflects the work you put into it, after all. Wait until the end to see who guesses the most correct renovation cost!
Check out the first video: • Cash Flowing From This...
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Chapters:
0:00 - Intro
0:50 - Explaining the Rules
1:53 - Beginning Renovation Estimates
10:52 - Final Guesses
11:20 - Pace’s Explanation
12:26 - Outro
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❎ I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a UA-cam video for entertainment purposes ONLY ❎
We are finally done with the renovation! Will be making a UA-cam video on it very soon on my channel!
I want to see it! 🤩
Stoked to finally do these deals with Kevin and Pace, let’s do more! 🙌🏼😄
This is a fake comment
@@jefftelgenhoff4703 How is this fake?? I'm literally the guy in the video...
Great guesses from the guys, and so helpful getting so hear the kind of things Pace says is worth switching vs not worrying about. Thanks for the great content Pace ✌
Our pleasure!
I loved this walk through. It was highly informative. I literally came up with $34500, 🤷🏽♂️ at the end . I have to practice more . Thanks Pace for the lesson 💪🏾 🔥 💯
Nice glad you took some value from this!
Awesome video Pace! I went through with my own calculator and ended up at $34,200. I found this to be highly valuable, thank you for the content.
Awesome glad it helped ya!
Pace Morby, Subscribed because your videos are always awesome!
Thanks so much man!
It would be valuable to get actual price per sqft on each item and break it down. This was more like a TV segment than actually giving information on how to estimate repairs.
I may have to make a video about this in the future! 👍🏼
That s great information. We do construction work and most fast you do it more money you can get it
Right on!
I think it's a little low on the electrical replacing with LED lights on the first house
🤯 Time to put in 11 years of work!
The grind don't stop 😮💨
Rock n roll
Sounds expensive af and probably not worth it, eh?
Well if you want to attract tenants and have a cash flowing property, you've gotta invest in it