I know nothing about construction and rehabs. Help.
Hi folks,
Total noob here, planning to make OOS buy and hold investments.
As I learn more about this business, I think one of my biggest weaknesses is that I know nothing about house construction or rehab.
I grew up in a tall, downtown apartment building. When something broke, we called the "maintenance office." The heat just worked, the stove just worked, the plumbing just worked. The roof was 16 floors above us so I never had to think about rain. Utilities and cable TVwere included in the rent. We weren't allowed to rehab the place.
If the only way to make money in a buy-and-hold strategy is to find deals and rehab them before renting, then I have a lot of learning to do. I don't know anything about construction, design, materials, or weather-proofing.
What do you think is the minimum set of knowledge required for an investor?
What resources can I use to start learning?
Thanks!