Looking for Mentorship on Remote BRRRR Projects

[Richard Billingsley]

I'm looking for a little guidance and hopefully some mentorship from those of you who have experience with the BRRRR method and working with contractors.

I currently own a few rental properties, but I've never really had to manage contractors myself. Up to this point I've mostly worked through property managers and haven't done major rehab projects. I'd like to start venturing into BRRRR deals, but I know there's a lot I don't know when it comes to renovations and managing contractors.

One additional challenge is that I would be doing this completely remotely. I'm currently overseas, so I wouldn't be able to walk properties, meet contractors in person, or regularly check on projects. Because of that, I'm especially interested in learning how experienced investors successfully manage rehabs from a distance.

I'm hoping to learn things like:

• How do you find good contractors?
• How do you request quotes and compare them?
• How do you verify their work when you're not local?
• What should be included in a quote?
• How do you structure payments?
• What red flags should I watch for?
• How do you keep projects on schedule and on budget?
• What mistakes did you make when you first started?

I'm not looking for someone to hold my hand through a deal, but I'd love to learn from people who have already been down this road. I'd rather learn from others' experiences than make a bunch of expensive mistakes myself.

A little about me: I'm a long-term buy-and-hold investor with a few rentals already, and my goal is to continue growing my portfolio and become more knowledgeable about value-add properties and rehabs.

Any advice, resources, lessons learned, or recommendations for managing BRRRR projects remotely would be greatly appreciated.

Thanks everyone.