#24 Flipping and Estimating Rehabs with J Scott!
Jan 4th, 2019 by thebookclubinterview
J Scott’s books really helped me out when I started buying houses that needed rehab work. J is detailed oriented and that comes through when you read his books, he offer's a step-by-step plan to help you when you are just starting out or even if you’re a pro. What I really like is the framework J lays out in the book, he teaches us about the 25 components of a house. I found this extremely helpful in the beginning when I was plugging in numbers as a new investor, it gave me the confidence to write offers and be within the ballpark for items like HVAC, electrical, Cabinets, flooring, and everything else that makes up a property.
Check out his website for flipping houses: J’s site is a SUPER helpful and its all free. His case studies really helped me when I was just starting out: http://www.123flip.com/
Bullet points from BiggerPockets.com
Inside, you'll discover:
- Implement the 7 most common and creative financing strategies
• Evaluate the profitability of deals quickly and accurately
• Determine the types of properties you should invest in
• Perform due diligence to ensure your deal is a winner
• Identify the best locations to build your flipping business
• Create a scope of work, budget, and schedule that generates profit
• Find and hire the best contractors to manage your rehab to completion
• Sell the renovated property quickly and at the highest possible price
• Inspect every aspect of a property to create your renovation scope
• Decide which upgrade options provide the biggest bang for your buck
• Identify the 150+ most common renovations you'll likely encounter
• See big problems (like mold and termites!) and quickly fix them
• Assign accurate prices to every rehab task to build a detailed budget
• Determine which contractors are best for certain repairs or projects
• Break down the top 25 basic components of a renovation
• And so much more!
About the Author(s):
J Scott is a full-time entrepreneur and investor, living in the suburbs of Washington, D.C. In 2008, J and his wife, Carol, decided to leave their 80-hour work weeks in Silicon Valley to move back East, start a family, and try something new: real estate. Since then, they have bought, built, rehabbed, sold, lent-on, and held over 300 deals, encompassing over $40 million in transactions. J also runs the popular website 123Flip.com, is an active contributor on BiggerPockets.com, and is the author of three books on real estate investing. His books have sold more than 100,000 copies in the past five years and have helped investors from around the world get started investing in real estate.