New Funding Resources 
In our previous blogs, we discussed renovations projects that might require getting permits as well as the situations when you can get away rehabbing a property without them. Getting permits will almost inevitably slow you down. It will also add an extra layer of expenses to your budget. On the other hand, not getting permits when required increases your risk and, ultimately, your liability. A building inspector might not only halt your whole project until the right permits are in place but also ask you to bring your existing renovations up to code. However, the focus of this article is not to dwell on when to get permits but how to effectively manage renovations that require permits.
Hard Money Blog: Invest, Revitalize, Create, Prosper
Estimating Renovation Costs: Major Expenses That Affect Your Budget
Mark Twain famously quipped: “Nothing in life is guaranteed except death and taxes.” As real estate rehabbers, we face that uncertainty every day. Our profit calculations are based on the myriad estimates that depend on factors beyond our control. Learning to manage this uncertainty is learning to manage and minimize your risk. Today I want to talk about one component that is especially tricky to control – your rehab costs. Estimating renovation costs correctly is the key to your success as a real estate investor. Yet, these four costly items are often overlooked and, as a result, may significantly reduce your profits.
Get Free Advice From These Real Estate Experts
In our previous blogs, we’ve talked about impracticalities of paying thousands of dollars to attend a real estate seminar or get access to a real estate guru. The best way to save money is to stop spending it when you don’t have to. So here is the list of real estate experts that are ready to impart their hard-earned real estate wisdom without emptying your valet.
Of Real Estate Gurus and Their (Cheaper) Alternatives
Gurus are defined as spiritual teachers in matters of fundamental concern who impart wisdom and initiations to those with less awareness and experience. Some are altruistic – think Gandhi or, for this matter, Yoda. Some are outright crazies who pursue their twisted ideas of domination and control over their followers – think David Koresh of the Waco tragedy. However, the majority of modern-day gurus are innocuous business people leveraging their brand to make money.
Are Real Estate Seminars a Good Investment?
In our previous blog, we talked about the basics of what qualifies you as a real estate investor. Let’s take it up a notch. Suppose you want to be equipped with the maximum knowledge possible, and you want to acquire this knowledge fast. In other words, you want to effectively compete with grizzled real estate investors without spending too much time and making too many mistakes. Not to worry – in your real estate journey, you are likely to encounter many experts ready to unveil their secrets and let you learn by their, and not your, mistakes. However, it’s those experts who are charging a wazoo of money that I am skeptical about. Yes, I am talking about those real estate seminars that cost upward of thousands of dollars to attend and even those e-books from “gurus” with price tags over $100.
Curb Appeal on the Budget: Rehabbers’ Secrets
Spring is in the air, and things are abloom. Let’s be honest though: if you are a rehabber working on renovating a property, chances are you’ve not inherited a fragrant garden full of daffodils from the previous owners. You should consider yourself lucky if your backyard has not been used as a junkyard and does not contain dead pets (yes, we had a few of those). So how do you prevent your property from sticking up as a landscaping sore thumb without breaking your budget? Even more importantly, how do you increase its curb appeal in a way that is both quick and cost-efficient? Here are several time-tested tips that will save you time and money.
