Walkthrough with GCs

Walkthrough with GCs

Andrew BoscoBusiness Member
Rental Property Investor · NH · Member since 2023 · 444 posts · 419 votes

On closing day, my contractor and I walked the same building and saw two different things

He was looking at code. Clearances, wiring, a joist that needs sistering, whether the steam heat is weak.

I was looking at the renter and the buyer. What they'll touch, what they'll notice, and what they'll pay for.

That's the part of the scope your real estate license helps with, and most investors skip it.

Here's where that showed up on our Portsmouth 4-unit:

→ Countertops go to stone. People notice them in the first 10 seconds.

→ We're looking at opening a wall so the kitchen feels bigger, and moving the stove to fit a bigger fridge.

→ The cabinets stay and get refreshed. Replacing them doesn't change what someone pays.

→ The walls get something bolder than flip gray. It's a historic Portsmouth building. It should look like one.

I've shown enough units to know what makes a renter say yes, and what a buyer's agent will point at. That's knowledge you build as an agent whether you invest or not.

And so when you do start investing, it shows up in every line of the scope. Your contractor protects the building. You protect the exit.

If you're an agent thinking about your first project, what would you want to know before your first scope walk?

We work through real scopes and budgets at our free monthly NH investor meetups. No pitch, just real talk

#AgentToInvestor #RealEstateInvesting #NHRealEstate

Andrew Bosco - Candor Investment Group529 Reviews
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  • Matthew MorrowBusiness Member
    Investor · PA - NY - NJ · Member since 2019 · 579 posts · 197 votes
    2d

    @Andrew Bosco This is the gap we see with clients all the time. The GC protects the building, but someone still has to protect the exit. New investors especially go overboard making things nice, and a deal that looks good on paper turns into a black hole. On extras, the short answer is almost never. Triage against rent, appraisal, and what a buyer will actually pay for, and scope it like a business.

    CORE Team | Realty ONE Group Supreme547 Reviews
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