Staring my rental property investing

[Stian Jones]

My mother, brother and I are starting our real estate investing journey. We are looking at quadplexes in New London county, Connecticut. My brother and I are are handy but do not know how to figure out the price of any renovation or potential problems that will come up in the near future. What are some options that can help us budget in any extra cost or reno? Would you recommend doing a walk through with a contractor? If so, how would you recommend finding them and/or if you know any local to my area I would love connecting with them. We do plan on house hacking and using a VA loan because my brother and I are Marine Corps Veterans. If you have any advise and local to me I would like to take you out for coffee, lunch or a zoom call to connect. if you're not local but would like to connect and talk through zoom I welcome that as well.

Thank you :)   

[Grace Wang]

@Stian Jones

For my first rehab project I brought in 2-3 contractors per project to give bids. That will give you a a low-mid-high range of costs of labor. Decide if you want to purchase all materials yourself, or want them to -- there are pros & cons of each option.

Also, there are many ways to budget on renos, but here are a few ways:

• - flooring: LVP vs Wood Tile vs Hardwoods vs Carpet. LVP and carpet are my faves. LVP is affordable and tenant proof, while carpet is cheap
• - Paint: buy a paint sprayer and paint yourself. It will be cheaper than hiring out and faster than hand rolling the paint
• - Cabinets: if they're more outdated, paint them and add new cabinet fixtures
• - Being your own general contractor: save on costs, but spend more time 

hope this helps :)