Property Inspection/Renovation Inspection Timing
Hello Bigger Pockets community! I'm looking at purchasing my first single family investment property in the near future but I'm confused at the timing or sequence of events. Let's say I'm following the BRRRR strategy. I would need to get an inspection, as well as get an estimate of rehab/renovation costs, likely from a general contractor. Does this normally happen during the contingency phase after contract? I feel as though it's a chicken or the egg scenario. You want to know what repairs the home may need, and what the renovation costs are before you make an offer, but I don't know what these costs would be without having these two inspections/estimates that likely can't be done when without being in contract. Thanks for the clarification.