55 min listen
244: Rookie Reply: How to Estimate Rehab Costs and Where to Find the Right CPA
244: Rookie Reply: How to Estimate Rehab Costs and Where to Find the Right CPA
ratings:
Length:
42 minutes
Released:
Dec 17, 2022
Format:
Podcast episode
Description
Need to know how to estimate rehab costs, even if you’re investing out of state? For most investors, it seems almost impossible to do a full-scale renovation while living hundreds, or thousands, of miles away. But, many time-tested investors have done it (including Tony), and you can too, but you’ll need to know who to go to and what to ask before you start. Or, you could bite off way more than you can chew, and risk losing your rental as a result.Happy Saturday, rookies! We’re back with another Rookie Reply, where your snowed-in on her birthday host, Ashley Kehr, and Tony J. Robinson are here to answer questions directly from the Real Estate Rookie Facebook Group and the Rookie Request Line. In this episode, Ashley and Tony share their best tips on estimating rehab costs, how to structure a partnership when someone brings money and the other brings effort, separating your rental property finances, and how to find a rock-solid CPA before tax time!If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).In This Episode We CoverThe easiest way to estimate rehab costs even if you’re investing from out of stateHow to split expenses on a rental property and which different bank accounts to haveBusiness credit cards and how to make bookkeeping much easier for yourselfWhy expert investors ALWAYS buffer in more money for unexpected rehab costsHow to split roles, responsibilities, and profits in a real estate partnership What to look for in a real estate CPA and questions they MUST be able to answerAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentReal Estate Rookie Facebook GroupQuickBooksStessaMLSLowe's Home ImprovementThe Home DepotFrom Line Cook to Long-Term Investor with 32 Wholesale DealsBiggerPockets BootcampsBiggerPockets ForumsReal Estate Rookie YouTube channelConnect with Ashley And Tony:Ashley's InstagramAshley's BiggerPockets ProfileTony's InstagramTony's BiggerPockets ProfileCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-244Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Dec 17, 2022
Format:
Podcast episode
Titles in the series (100)
2 Long-Distance Rentals with $0 Down with Tony Robinson by Real Estate Rookie