Estimating Rehab Costs Like a Pro

 

Estimating_Rehab_Costs_Like_a_ProEstimating rehab costs like a pro involves looking at real estate with a certain set of lenses. What has taken decades to master, you can learn by simply taking a walk with me through a property. There has been a recent trend to try to shortcut calculating how much it is going to cost to fix up a house by using rehab calculator apps or online software tools. As you’re about to see, a simple calculator from the dollar store is all you need. The key is in how you analyze the property. The following video will show you exactly how to analyze a property so that you too can begin to estimate rehab costs like a pro.

 

How to Estimate Rehab Costs Like a Pro

IGNORE a Rehab App or Calculator

 

CREATIVITY (0:50)

 

  • Example: Upon first look a roof might look like it needs to be replaced. Upon further inspection, it might only be dirty and need a good pressure wash.

 

THE GOAL (1:25)

 

  • What is the overall goal?
    • Complete rehab, then sell it to a retail buyer?
    • Prehab: clean it out, and flip it to a novice or contract investor buyer
    • Take it over and rent it out

Neighborhood: (1:45)

 

  • The level of the neighborhood will determine the level of materials you will need to purchase
  • Nicer areas will require nicer materials
  • Different qualities of paint for example

Labor Costs: (2:04)

 

  • The cost of labor does not always equal quality
  • Sometimes the best contractors are not that expenses
  • What needs to be done?

What to Bring with You to the Home: (2:42)

 

  • Tape measure
  • Something to write with and on
  • Renovation costs are easier to determine when you have square footage of the home

Write Down What Needs to be Done:

 

  • Look for obvious signs of trouble
  • Wet spots on the ceilings
  • Carpet replacement? Quality of carpet will depend on neighborhood

The overall goal for the home will determine what needs to be done(5:52)

 

  • If you are looking to buy, to renovate, to sell to a retail buyer, you might want to make some minor changes to help with the β€œflow” of the home. Cosmetic fixes
  • If you are buying to lease out you can often choose cheaper fixes or leave some things the same.

The Kitchen

 

β€œThe kitchen and bath sell the home”

  • Be more critical in the kitchen because buyers tend to be more picky about this area.
  • Cabinets might be able to be painted and have the hardware changed instead of replacing, but with all of the grime and work that entails, sometimes it is more efficient to buy new ones.
  • Older appliance will need to be replaced
  • When you open up underneath the sink, look for stains. This will let you know if there is a plumbing problem.
  • If the flooring is not in good shape it will need to be replaced with laminate

 

“Money spent on the kitchen is money well spent”

 

Quick Tip:

 

If you are walking around the property with a seller, you do not have to overly point out the problems. Simply make a note every time you see a problem. The seller will see you writing so they will know that you have noticed things. It is part of a negotiation strategy. Small facial expressions, and notes help a seller lower the expectations of what they will get for the home.

 

 

If you are worried you will lose out on a home if you do not make an immediate offer here is another tip:

 

  • Measure the rehab costs by $5,000s
  • If a home only needs a little minor cosmetic work: $5,000
  • If a home need a little bit more work then that: $10,000
  • If you overestimate that is good for you
  • If you underestimate, do not panic. You can always bring this up to the seller when you do your due diligence, after the property is under contract.

More Inside Tips:

 

  • Master bedrooms with bathrooms up the value
  • A bedroom is not technically considered a bedroom unless it has a closet
  • If a room does not have a closet, it is considered an office space, but if you want to make it a bedroom you can add a closet.
  • Look for leaks in the garage and try to find their sources
  • Check if the water heater is gas or electric.
  • Most people do not like gas water heaters
  • Check out the breaker box and see how ancient it looks

Outside Tips: (20:10)

 

  • Look Things That Might Be a Problem
  • Paint Condition
  • Landscaping
  • Water Damage
  • Look for Signs of Termites
  • Waterfront property instantly adds value
  • Not having a yard can often be a negative
    • It will reduce the marketability
  • Note condition of any porches
  • AC unit is very important
    • Get a visual, turn it on and see if works.
    • Take a picture of the newest sticker on the unit, this will help determine when it was last serviced
    • Also take note of the model number and year it was built

Summary:

 

  • Gather as much information as possible in your first walkthrough
  • Sellers appreciate you not needing to come by multiple times to get all of the details
  • You can also take photos to remind you of what you saw
  • Collect all of your notes
  • Think about what you can really do with the house

Comments

  1. DAWN ALFONSO says:

    HELLO, YOU SAID THAT YOU CAN’T CUT DOWN CERTAIN TREES. WHY? THE LAKE FRONT IS PRETTY , YOU CAN FIX UP THE HOME NICER AND MAKE IT MORE HOMEY. WHY DID THE LAST RESIDENT LEFT THIS HOME. HOW MANY YEARS DID THEY LIVE IN IT?
    OR WHAT MADE THEM LEAVE THEIR HOME.

    • Phil Pustejovsky says:

      I said in the video, “The HOA may not allow me to cut down the tree”. Homeowners Associations (HOAs) are very powerful and can restrict what a person can or can’t do to a property. The previous seller had owned the property for 28 years. She was being moved into assisted living. Wonderful lady, actually. She was very happy with the deal we put together.

      • Jamel Brunson says:

        Phil majority of all the information you put out is very helpful to me being that I am just getting started Real Estate. The video will be my bible when I go to estimate cost and check out a potential money making property to sale. thanks

  2. DAWN ALFONSO says:

    YOU are good at teaching what needs to be done and what to do.

  3. Very great visit, thank you Phil.
    How do you go choosing your contractors?

    • Phil Pustejovsky says:

      With a lot of caution πŸ™‚ The appendix of my book has a section on Building Your Team where I explain how to locate great contractors.

  4. I like this vido very much. It gives me what to look for during walk through the property.

    Thanks very much.

    Amy

  5. Phil, great video buddy!

  6. Awesome video!

  7. Frances Brown says:

    Thank you so much all your free tools and videos. I was blown away by your testimony of how this all began for you, God is truly amazing. Im am also lead by the Lord Jesus Christ to do a couple of deals this year. Im trying to educate myself as much as I can, but I know the blessings of the Lord is already upon it. Please keep the incormation coming they are a great help. I will sign up for the apprenticeship, so pick me! Be blessed and continue to be a blessing.

  8. When looking under the sink, one should also look for the type of plumbing…copper vs galvanized.

  9. artem skripkin says:

    Great video phil

  10. Johnny Moore says:

    Great video Phil!!! very informative as always… keep them coming

  11. Maria Burns says:

    Thank you Phil
    I love your videos, it contains a lot of helpful information, Thanks for sharing!!!

  12. Greg Carrier says:

    Thanks for another great video. Your sharing of detailed information and specifics is incredibly helpful to me. I have found in the houses I have purchased over the last year, that the rounding to 5,000 rule helps me more than just about anything. I am an accoutant by trade and woud in the past spend way too much time working on numbers only to find a suprise at the end which threw off the total by a thousand plus dollars. The only other thing i may add which may be helpful is that my mind works a bit like yours, I do not need many pictures, but I do need measurements, especially for kitchens and bathrooms and a quick drawing of the house plan. That is because new ideas will come to me over time and then I can quickly see if they will work or not. Thanks again.

  13. Frederick Freeman says:

    Hi Sir is it good to invest in a home that needs rehab but has bad roof leak. what to consider and what not to consider in buying a home that you would like to flip or rent that needs rehab?

  14. If u r wholesaling —what if u’re rehab estimate is different from u ‘re buyer. U’re buyer will generally do an inspection right.

    • Phil Pustejovsky says:

      Correct. They will do their own inspection. As a wholesaler, you just want to sell it for as much as you can. Estimating rehab costs is not all that necessary on a wholesale deal approach. BUT, knowing what needs to be done is because before the investor buyer drives over to take a look, they may ask you what work needs to be done and you should know that answer.

  15. Thanks Phil for a very good and a practical video. May god richly bless you

  16. Murray Freeman says:

    Hi Phil
    I really liked this video
    This is a skill as an investor in properties you need to develop
    I have to est. repair cost in my job and it always amazes what some people think repairs cost
    I have learned over the years to make my est. and add about 10% for the unknowns
    Thanks again for the great video
    Murray

  17. Michel Maitre says:

    Dear, Phil I really like your video In fact, not all the investors give free information like you do to tell you the true I would like to take a chance with you after I read your book and watch your video the only thing I need a lot of help. Please call me when you have a chance after 6:pm . Thank you

  18. Best advice you can get for free on rehab estimate. Thanks Phil.

    Raj

  19. Thanks, Phil. I liked your comments about chunking the rehab costs into 5K’s. That’s a lot easier than trying to estimate every penny during a walk through. I had not thought about examining the electrical panel in the garage for age and taking pictures of the AC unit’s labels for research. Great tips!

  20. Anh Nguyen says:

    Great tips, Phil! However, I still wonder how you checked the flooring in the bed rooms where you could not even walk around. And how did you turn off the circuit breaker in the garage? πŸ™‚

    • Phil Pustejovsky says:

      I couldn’t check the floor under the junk. It was a calculated risk. And you simply flip the switch to shut off the breaker.

  21. Thanks for providing a complete room-by-room walk through. Great information about things an investor might not think to investigate when buying. How did you find such a great buy? And on a lake too.

    • Phil Pustejovsky says:

      Now THAT is a good question. My apprentices, coaches and I spend hundreds of thousands each year in testing to always stay one step ahead of the competition and get to deals before anyone else does. I only share success expensive insight with my apprentices and coaches πŸ™‚

  22. Very informative! Thanks for your insight!

  23. Tim Reardon says:

    Phil,
    How did you deal with the “Hoarder” house’s mess? Hire crew with large dumpster (time is money) or did you take the time to go through materials, pick out good stuff and sell at yard sale to recoop some of your initial money? Was taken by the large amounts of items left in the house. Which of the two do you usually subscribe to following in situations like this. Enjoyed the video.

    Tim Reardon
    Dodge City, KS

    • Phil Pustejovsky says:

      Had 5 different ministry type groups come in and pick up everything they wanted to sell in their second hand stores. Then, had a junk removal company take out the rest.

  24. Aca McDonald says:

    I like your videos. I am interested in learning more about wise ways to be a real estate investor. I am a retired house painter etc. Something to do in my twilight years. I would like details of your apprentice program. Also, I think it might be a wise idea to have the sewer lines in the house inspected with a camera and add it to the variables of the decision making process. Thank you. Aca.

  25. Don Shapiro says:

    I thought you did a very good job of communicating all the tasks ahead. The first question that came to mind was, who does one hire to clean that house out? I tore the backside of my two story house off, thirty years ago, and added a two story 14 ft. addition and I had a hell of a time getting subs to show up when I needed them. Is it easier to find small contracting firms for rehab work in this down economy?

    Thanks

    • Phil Pustejovsky says:

      In the back of my book, I have an entire section on Building Your Team, including how to find competent and trustworthy contractors.

  26. R.T.Jackson says:

    very good!

  27. Diane Hoesly says:

    Gosh this is good i have done this. actually many times as i have looked at all kinds of property, but alone or with a friend
    and no money. nothing produced. this is the thing i love to do.

  28. leonidas says:

    Phil.
    I like you video this give reahb information ,for anyone who is new in real estate investment this teach you how to do it
    thank you ,i want to business with you
    leonidas

  29. Adelle Blackman says:

    Phil,
    That was a great video. The only thing I would do isreplace ALL carpet in Florida with either laminate or ceramic tile. Since I made a huge investment of which we ALL got taken and the state of Florida investigators got paid off we are sure, I am praying the FBI does their job, but I am not holding my breath. Now I need to find people I can get properties for no money, but with all the investors here it is extremely hard now. But the one rental I have left, I am doing a rent to own and they are going to be re doing the entire home with credit for what they do toward purchase. But if theygobad, theyarejustarentertobeevicted. I had to learn that as I know longer have any money to spend when it has been trashed. This is the answer. Now if I only find 3 -4 more?

    • Phil Pustejovsky says:

      I like putting carpet into the bedrooms because that’s what buyers want. If you are doing a rental, I can definitely see where laminate is a better option in the bedrooms. Finding the best deals is an ongoing quest that my apprentices, coaches and I spend hundreds of thousands of dollars each year in testing to find new and better ways to get to the deals before the competition.

      • Just a the carpet is what people want don’t you want to make your rental easier to maintain? Having the Pergo or hardwood floors would seem easier to maintain overall.

  30. good job.

  31. RL Williams says:

    Great walkthrough Phil! I’ll have to watch this one again. I love your videos and how you give so much great information away for free. Funny thing, when you were talking about the Carleton Sheets thing, I too bought into his program. I had all the dvds and books. But I actually read and watched them. I also bought into Russ Whitneys system. I never did the mentor thing because it cost so much and I didn’t have the funds.

    I jumped right out there and bought myself a duplex though with no money down using the AmreiDream program. I actually put over $1,200 in my pocket at the close. Disaster struck when I lost my job AND one of my tenants. I ended up losing my duplex to foreclosure. Since then, I have been suffering from severe depression and my wife was diagnosed with Alzheimer’s in ’04.

    I have since gotten back in the saddle and closed a deal on 2 houses for $10,000 putting around $4,000 in the down and closing, flipped one house for $5K right away, used the proceeds to begin rehab on the other. I ended up getting a buyer less than half way through rehab on an owner carry for $16k with $2k down also financed and I gave the buyer zero interest. As a hindsight I should have sold it for a bit less and used an APR. But we learn from our mistakes.

    I have had to give up my business, which wasn’t doing all that well after the recession a couple of years ago, and stay home with my wife full time due to her condition worsening.

    I am also much like the lady I saw in one of your videos yesterday who is just terrified of dealing with sellers and even buyers. I knew the man I bought the 2 houses from, he was my neighbor from across the street as were both houses. But when it comes to dealing with complete strangers, I’m petrified! I know the foreclosure and subsequent depression is the contributing factor in this but that doesn’t help to know. My self esteem was completely crushed.

    I downloaded Napoleon Hill’s book from your site and have been reading it. It helps a lot. I have been implementing the tools therein. It’s a difficult thing to build on something that has truly been lacking my entire life. The one constant remains in my life. I want to become a successful real estate investor! I have had my failure and I have had my small success. But I want true success! I need to overcome my fear factor hurdle! If I could only do that I could be a great real estate investor. I have come to the realization that I need someone to hold my hand through the first few or several deals.

    I almost had a partnership set up with a couple of gentlemen. One is a current investor who has hit a wall in his investing career and the other is a former real estate agent. And of course my fear factor and low self esteem plus the fact that I have no idea how to set up such a partnership got all in the way and I chickened out.

    The one thing that I know to be true is I need to ACT and I need the right kind of help and encouragement to help me ACT. If you don’t mind, I will continue to take advantage of all the free instruction you offer.

    Thanks so much for all the no cost info!
    RL Williams

  32. Bryan Smith says:

    Hello Freedom Mentor,

    I want to apply for your “appreciate program” but I’m experiencing issues with completing the application online. Is there another way to apply for this program..?

  33. Hello Phil,
    Thanks for the info, I’m putting in a offer on my first fixer upper to rent out and the info you gave May have saved me thousands!

  34. Bimal Doshi says:

    Hi Phil,

    Of late I have been watching your videos and learning a lot from your easy to understand style of delivery.
    Thank You, Keep up the good work.

    Best Regards,
    Bimal

  35. how do you measure sq footage on a house

  36. Hi Phil,

    I’ve been watching your videos and also completed your online course. I just have one question regarding this entire real estate investing idea (please pardon me for not asking a question relevant to this specific video). If I want to become a real estate investor without ever having to deal with interest of any sort at any time, is that possible? Or will every real estate investor inevitably end up dealing interest one way or another? Thanks

    Mo
    Los Angeles, California

  37. It is very interesting vedio Phill. I learned a lot.

  38. Any safety concerns when entering a place like this? Things falling on top of you? Sharp objects etc?

    • Phil Pustejovsky says:

      I have yet to ever hurt, even once, in a property. You are probably more likely to get hurt in a car accident on the way to a house rather than some random ceiling fan falling down on your head.

  39. That was such a great walk through,and a very good rehab lesson.Thank you.One thing I noticed was the cost of gettng all that junk out ,with labor cost and dump fees.Labor cost is my biggest downfall.

    • Phil Pustejovsky says:

      Downfall? Are you referring to the fact that you have mis-calculated (under estimated) the cost of labor for your rehab projects?

  40. Thanks for the video- I am amazed at all the junk! One thing I do want to know…looks like a nice area which area and lake is that? We might be moving to the U.S but it’s so difficult to choose one good place !!

  41. Isaac Palmquist says:

    Good Information and Nice Blog and Site… Have blessed day

  42. thanks for a very informative video!

  43. Rose Pachura says:

    Very good information to share one on one!

  44. Nour Al'Deen says:

    Great job Phil!

    My guestion: As investor, can one have an R.E.License? Interested in wholesaling,and becoming a licensed r.e..

    • Phil Pustejovsky says:

      Yes. I have a training on this subject to. It’s called Should real estate investors get a real estate license?

  45. lee lytle says:

    Hello
    I just want to thank you for your video’s. They are truley informative, very professional and I get a true humbleness if thats a word feeling from you. You seem like you have been very successful and you want to give back. I appreciate that. I was working for a grocery store for the past 29 years, the last 8 as a store manager. I was let go for something out of my control because i would not step down to a lower volume store for punishment. Although its is hurting me financially I think it was a blessing. I have been offered several positions since then but I do not want to return to that business. I think its was meant for me to go after my dream of being a very successful entrepreneur. I have always wanted to be a real estate investor and I think I need to go after it. I have paid for several programs over the years but my head is just left spinning. I am lost on how to start. Your video’s have taught me a lot and give me hope. I am one of those who see’s several deals all around me but not sure how to go after them without the finances. I feel like I am letting deals slip through my hands. I need to conquer contracts to get the offer and what to do after that. I have already invested over $10,000 and I am stuck. I want to be one of your mentee’s. I will not let you down. I am 46 and have nothing but time on my hands. Please help me. thanks

  46. Eric Volkers says:

    Hey Phil when you do break the rule and do a rehab which I know you mentioned is usually what you said is just cosmetic fix up not major repairs my question is what’s the most amount of money you will typically spend on these cosmetic rehabs? I thought I read on top that you spent $30,000 in rehab on this deal. Gosh I would love to be your apprentice I just don’t know how I could go by doing it it would be a great American tragedy if this Christian brother like me with all this grit and resources and smarts didn’t getting to do massive lifetime deals and change people lives and contribute to society and make money with you. God Bless awesome videos

    • Phil Pustejovsky says:

      I paid $35,000, put $32,000 into it and sold it for $139,900. THAT’S when I break my rule.
      The biggest tragedy is how many Christians aren’t obedient to what God has called them to do but instead, does what they want to do. If it is God’s plan for you to be a real estate investor, then it is just a matter of time πŸ™‚

  47. Sammy Gallegos says:

    Hello Phil, Thank you for everything you have been showing us. I say us because my 3 month old Grandson and I really like watching and listening to your Videos and CD’s

  48. Steven Vonklein says:

    I see above in the comments you reveal the before and after numbers. but not in the video. Thanks.

    If you could teach me how to consistently find deals such as this I would be interested.

    You would have your hands full here in the northeast beating a slew of savvy RE investor competitors. to achieve a spread like that. If I am wrong, let me know.

    PS had a similar experience with the “Dave Deldotto” cassette tapes throw about ..except the housed was gutted to the studs and the guy gave up. WOW

    ——— Enjoyed the casual style of the video.

    • Phil Pustejovsky says:

      My apprentices do deals with these kinds of spread in the Northeast. We’re already beating out a slew of savvy RE investors. Thankfully, just because someone is a savvy investor doesn’t mean they are savvy at marketing for motivated sellers the way my apprentices and I are. Marketing mastery takes a long time to dial in and most investors don’t take the time to hone that skill.

  49. Hi Phil My name is Rich I live in Florida. first of all I like your videos. They are very informative. my wife and I want to start doing this business.so we need a mentor what does it takes for you to be our mentor.talk to you later God bless.

  50. Jimmy Burnett says:

    …the video was awesome! I have a property I am looking at ( my moms house) and I basically did it the same way you did! I am a real estate agent and really want to get into all aspects of it ( buying, selling, flipping, rehabbing, building) and always look forward to your emails!

  51. Phil, excellent video, thank you! If you are renting a property and discovered termites, would you maybe want to get it treated anyway so that they won’t eventually destroy the property? Perhaps you may want to sell it in the future.

  52. Phil,

    I have to say that I really like your videos and blog posts. You come across as an ethical and knowledgeable investor.
    You provide a plethora of knowledge absolutely free, and you make it seem as if your goal is to help novice investors, and the overall profession as a whole.
    If I were to purchase any program, it would definitely be yours.

    Many blessings to you and your family.

    Jacob

  53. Frances Koo says:

    Thank you very much for a great rehab video! I’m nervous to walk through a home, and this helps a lot to know what to watch for!

  54. Salva Wright says:

    Hey Phil, thanks for the insight
    I bought a house before that was covered with wall paper only to discover when we tore them off all the wall was cracked . also we had to it in 5 columns because it was not level.
    I did not know better then and we discover this after purchase. Refurbishing is quick tricky you never know what behind the walls.

  55. Hey Phil,
    That was a really informative video, Thanks for sharing your knowledge,
    Some time when we go to get a fixer upper we don’t see the little things,
    I purchased a house before that was cover with wall paper, after removing the wall paper. It cost me so much, reason being it was cracked and termites had destroy the roof and bathroom.
    so now ill bring my notes book as you suggested and pay careful attention.
    Thank Phil.

  56. Guntila Muleya says:

    Hi Phil,

    Enjoyed your video. So insightful and comes at a good time for me as I bought a property which I need to rehab. I estimate it will cost me about $30,000 to bring it to the level I want to use it for, serviced apartments. Do you have specific literature for furnished apartments business?

    Cheers

    Guntila Muleya
    Zambia, Africa.

  57. Benjamin says:

    Hi,

    As I look at your video, I remembered a duplex for sale I visited last year that also belonged to someone with compulsive hoarding disorder.

    I was wondering if getting a creative deal from this situation could involve this issue.What I mean is, if the house would have been cleaner, would you still get the same deal?

    Thanks

  58. Hey Phil,
    You have great material! Thank you for sharing your experience and information. My wife and I have been in real estate and rental homes for years. I want to ask you a question. We own four rental homes without a mortgage. I have always been taught that “the borrower is servant to the lender”. BUT would it be more income-beneficial to take out a mortgage on the homes to where I still have a positive cash flow from the rent and put that money to use in more properties? Thanks for your advice in advance! From the WHITEHOUSE

    • Phil Pustejovsky says:

      That depends. Free and clear real estate is wonderful so running out and getting mortgages must be handled with extreme caution. But it could make a whole lot of sense too. It all depends.

  59. Nancy Wynn says:

    Phil, this is the best of anything I have seen or read on deciding what should or should not be done to rehab a house. It has helped me tremendously in looking at each room and outside with which way I will be going with the property. I am seeing everything with different eyes now. Here in Texas, the hot water heater has to be 14″ off the floor and must have a pan under it. I have seen a lot that don’t meet those requirements and have to be fixed. Thanks for sharing your valuable experience and expertise! You are a great teacher and mentor!

  60. Phil I always learn something from all your videos. I am new to the real estate business started January 2015, I’m 59 years old, a retired teacher. I have wanted to go into real estate since 2008 but didn’t have the courage to do it. Now retired I can take my time building my business.

  61. vernice taylor says:

    Hi coach it was my pleasure watching this video it shows me what to look for when buying a property and how to estimate any repair cost with my contractor thank you

  62. Anthony Diaz says:

    So what was your rehab costs? You didn’t give us any actual numbers. Did you end up buying the place?
    Very nice presentation otherwise

  63. Lee Pence says:

    Thank you for the detailed walk through did you purchase this home if so could you show the finished rehab. Lee

  64. Cynthia Hedspeth says:

    Enjoyed the video thank you for the walk in the house and the yard I like the information that was giving for the rehab I learn a lots of important things to look for

  65. Denton Gordon says:

    Phil. just another invaluable lesson given, With all the other lessons given, this “visual” has drawn together all the theories,the math, the facts etc. involved in this business, wrapped it and placed a bow on top

    Thank you.

  66. I really enjoyed what I saw, and how you explained about creativity when deciding what to do. Also, the information about the roof was an eye opener for me. Thanks for sharing!!!

  67. Brian Case says:

    Phil, saw all the other comments and agree great to gain some insight on the overall process of assessing the rehab in the moment. The video was great and appreciated. I’m a novice fix/flip with 10 properties under my belt the last 15 months. Keep the educational video’s coming……..they are useful.

  68. Julie Kai says:

    Dear Phill

    Thanks for sharing and I like your videos and learing a lot.

    God Bless
    Julie Kai

  69. Phil,

    Thanks for that. I have gone into properties that I had thought were gut jobs but after watching this I realized that with a little creativity they were not as bad as I thought. now I know to try harder to think creatively and at times somewhat unorthodox like the bleaching of the roof rather than replacing it

  70. ern bravo says:

    Thanks for the tips, love the info and your ‘secrets’…..!!!!!!!!!!!!

  71. Millicent Spence says:

    Hi Phil,
    Us have been watching your videos and Man you’re so informed your videos leave no stone unturned!! And you take us step by step that only a real dummy wouldn’t comprehend!! I love that about you. By the way this information on estimating rehab costs like or pro great inform from beginning to end of the video very interested love the Lakeside home!! I am so interested in getting into real estate buying properties whether to rent, flip, or even a home for myself & family.
    I want to know about starting up and getting financing such a cost when you don’t have collaterals to put up and some of these houses that’s foreclosure that’s would be my the area I would want to start out bein as houses are much affordable! But must are offered at cash only properties and so that’s my challenge how would I get the collaterals to even bid are but such properties? I am not rich person I might have $20- $40 thousand in my hold and tire saving but wouldn’t want to touch that what would you recommend me to do?
    Thank you so much for sharing your knowledge with us! Don’t even stop your inspiration! I love you .

  72. enrique jimenez says:

    Hello Phil
    Great video very educational for us newbees.
    I am currently in my first rehab i have my own remodeling company and finally
    decided to start in real estate for my self . My question is how can find great leads on buying
    homes with that much equaty on them and beat the competance

  73. Karl Brown says:

    Hi Phil, I’m starting out as an R.E. Investor and your video really helped me out although I do think have my first property, I now know something about what to do and look for. Thanks KS a million and I’m a fan/follower for life!

  74. Sylvester Igbedioh says:

    Hi Phil,

    This video is fantastic as it contains very valuable information that can help anyone in real estate, especially those just starting out.
    I agree that every R.E investor needs a mentor.

    Thank you

  75. judith Thomas says:

    Phil, I enjoyed your walk-around on the hoarder house. Great video.

  76. Eliezer Rodriguez says:

    Thanks for email me this video. I ejoy it very much and i want lear more. God bless you it was .

  77. Isabel Luis says:

    Thanks Phil. I would to sign up too. God bless you! Im a new Real Estate investor in Nothern Virginia

  78. Aaron Rodriguez says:

    Thanks Phil. Great informative video. Many of the tips you gave are common sense, but when you follow them and string them all together, it makes a lot of sense and sets you up for success.

  79. Matt Henson says:

    Thank you Phil, I’m 20 and have work as a contractor for three years now. I have been so intrigued by your videos and am reading your book right now. I just wanted to say thank you for creating these resources for me to learn the ins and outs for property investment.

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