How To Manage Renovations From Out Of State (Even If You've Never Done It Before!)

[Jimmy Lieu]

Are you an out-of-state real estate investor wondering how to manage renovations from hundreds of miles away? In this comprehensive guide, I break down everything you need to know about managing renovation projects remotely, whether you're dealing with light cosmetic work or major gut jobs.

What You'll Learn:

✅ Why renovations aren't as scary as you think

✅ Light cosmetic renovations vs. major gut jobs - which strategy is right for you

✅ When to use a property management company vs. hiring a general contractor

✅ My 9 non-negotiables for working with contractors on major renovations

✅ How to avoid getting ripped off (real client lost $80,000!)

✅ Payment strategies that protect your investment

Key Topics Covered:

🏠 Buy and Hold Strategy: Perfect for turnkey properties needing light work ($5K-$15K range)

🔨 BRRRR & Flip Strategy: Major value-add projects requiring licensed general contractors

💡 Property Management Companies: Why they're perfect for cosmetic renovations

⚠️ Red Flags: How to spot contractors you should avoid

💰 Payment Protection: Never pay more than 30% upfront

My Non-Negotiables for Major Renovations:

✅ Strict timelines and milestones

✅ Never trust contractor photos alone

✅ Verify licensing, bonding, and insurance

✅ Get 4 itemized bids (material vs. labor)

✅ Red flag: contractors who can start immediately

✅ Walk their job sites before hiring

✅ Have unbiased third-party verification

✅ Only pay after work is verified

✅ Maximum 30% upfront for materials only

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Related Tags -

- BRRRR

- Buy and hold

- Flip

- Short Term Rental

- Mid Term Rental

- STR / MTR

- Out of state investing

- OOS investing

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Hit me up to talk or network about investing in the following markets!

• Cleveland, Ohio
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