What No One Tells You About Rehabbing Houses

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Flipping houses is no joke! Rehabbing houses is no joke!
In today's video, I share with you all the things I've been learning about the house flipping and real estate investing business.
Whether you are estimating rehab because you are a real estate investing beginner or wholesaling real estate or using the brrrr method to invest in real estate, this video is very important!
REAL ESTATE SIDE HUSTLES!
• Make THOUSANDS with Th...
J Scott’s Book on Estimating Rehab
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Never Split the Difference
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Learn wholesaling from me on Zoom at my Beginner's Bootcamp
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Connect with me on Instagram
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Watch these next
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• Wholesaling My First D...
Read these
Listen to them on Audible for free: amzn.to/2Xgfc0l
Read them on Kindle for free: amzn.to/317xhii
- Richest Man in Babylon: amzn.to/2Bq7A3u
- The ABCs of Real Estate Investing: amzn.to/2zTE4mg
- The Book on Rental Property Investing: amzn.to/304Q917
- The BRRRR Investing Book: amzn.to/3gQRteB
- Rich Dad, Poor Dad: amzn.to/38PeIDe
- The Millionaire Real Estate Agent: amzn.to/300H4pN
some of the above links may be affiliate links, meaning I make a small commission on the sale at no extra cost to you

[@Liliinvests]

*REAL ESTATE SIDE HUSTLES!* kzbin.info/www/bejne/npXOnqZ6nqaZiK8 *J Scott’s Book on Estimating Rehab* amzn.to/3qOuqaV *Never Split the Difference* amzn.to/2IdouWH *Learn wholesaling from me on Zoom at my Beginner's Bootcamp* bit.ly/3eDBTmE

[@DailyHustle-gh2fw]

I just listened to the audiobook for Never split the Difference last week 😂! . Another good book to read is the 10X rule by Grant Cardone. It’s also available on audiobook free on KZbin😉

[@reanagen]

Hi, What was that app you used to estimate the washers

[@shesfabulouz]

What was the calculator app you was using?

[@NicB.]

I'm not into real estate investing. I don't watch real estate investing on KZbin, but somehow clicked on one of your videos and found it very informative. Wishing you well in all of your endeavors. I've subscribed to be supportive.

[@MrStrosty]

You are dropping nuggets. You’re doing what no one else is. The convos with your contractors, the lessons learned, bargaining with the store owner and most importantly your numbers. I gotta say, I appreciate what you’re doing.

[@dolosolo6214]

She is

[@firefalcoln]

45/45/10 seems like a pretty smart way to handle the payment of contractors. Nice tip.

[@ladykimberly4384]

As a Mom it makes me proud to see you so savvy. Stay successful and strong.💕

[@lebisque9194]

In design school we had to create binders with Excel spreadsheets with all of our materials with their brand names, item/sku numbers, descriptions, where or from whom we purchased it, cost per unit and samples of say, paint chips. tile. wood, etc for each job we were working on in the binder. Each binder had the name of the project on the outside. It really is helpful to be able to pick up the binder and say flip to the page with paint and see the chips etc.

[@TheCreativeVictor]

I looove what you’re doing Lili. So informational. ❤️ I like your 45/45/10 payment idea. Have you considered sticking with 50/50 and incorporating a final walkthrough to find those “touch ups” but not paying until they actually finish the job? I think those touch ups could have been corrected on the spot and your contractors will know you don’t mess around. You deserve hard working people (that get paid rightfully). 😎

[@Athandatu]

You’re killing it, Lili. No wonder you hit 2.5 million views. I recently subscribed and hit that notification bell as well.

[@nathan_hitchcock]

Love this video. Really sets the tone and shows how many different decisions your making throughout the day. There’s a ton of variable in each move and it seems like the only way to get better is by doing it and banking some of that experience. Great video thanks for sharing!!

[@kristensimpsonrealtor]

Great video Lili!!! Getting ready to close on my first property and lining up contractors right now. I am a big fan! Keep killing it!!!!

[@anthonywilliamson7049]

PLEASE MAKE AN ENTIRE SERIES ON THIS!!!!! Seeing vids like this gives us newbies a real life exampleand FEEL for how these projects come together, and what to keep an eye out for. It’s the next best thing to actually having a personal mentor.

[@kishaulysse5539]

For the paint issue, you should be able to take a paint chip from the wall to Home Depot and they can match the paint and tell you the color. Awesome video as always!!!

[@gaylanwright2317]

The military discount ❤️

[@georgefielderthe2ndaccount955]

Just had the paint issue, slightly different. Old paint in garage, needs to go on cousin's wall. I suggested that we get a paint sliver from wall. I took it to "Big Box" and they matched the paint perfectly, and I chose an egg shell finish. It actually matches the fade of the wall paint. In your situation, the same store would match your paint's color profile, and be able to give you your exact color that you chose originally. Love your work ethics, keep going.

[@zacharyfair6738]

YES!!!! the same shade of white for every house lol. And I like how you show the real hustle. Not just showing up and making it look easy. This is the grind in the beginning.

[@agirlhasnoname6306]

Finally somebody saying something worth something. Awesome content sis 👍🏾

[@abrownfather]

I love that LiLi offers quality to her tenants at all times. She refuses to be a slumlord. #goals

[@Srbog1]

Video Production , engaging personality, awesome advice, you are killing it. Thank you Love it.

[@NathanPaynelessFlipping]

Great info! We are doing 3 flips right now and this helped me figure out how to break down the rehab costs even better!

[@coalcreeker583]

Wow! Gotta love this girl. She is so real. I need to learn as much about rehab costs as I can because I’ve got an elderly friend who needs to move and wants to sell me the house she and her sister inherited from their father. It’s a hoarder house with a detached garage full of trash and about 20 junk vehicles on the property. In the mountains. Thank you Lili for sharing your journey.

[@soaringeagle83]

Thanks for what you do. I have learned alot from your videos. I'm looking to get into real estate and it's good to know the details in rehab like this.

[@rudolphrobinson6286]

Lili Thompson you are amazing. I could not stop watching. I wish to renovate my home first home someday.

[@KenRobert1]

Hi me. Had to subscribe twice.

[@dasg5805]

I'm a first-time homebuyer. This is tremendously helpful just to know what to expect when starting to hire people. Best of luck with your business and youtube.

[@askme0084]

Lili, I learned so much from you. I am in the middle of my full renovation. I have other properties but mostly light rehabs. I watched all your videos and it helped me to finally do an out of state full rehab. I have learned from your mistakes and it has helped me, but I obviously have many mistakes myself as I go through this process. Thank you! Keep killing it! Hope to connect sometime. 🤙

[@nextstar55]

i'm so proud of my people when i see them doing great things...

[@Sovonnie]

I love this !! I’m on my journey to getting my first property . It’s just so hard to save! But I’m excited to start and learn from you until I get there 😁

[@jackintosh]

This was super helpful. The 45/45/10 was a great idea! And the video of the interview was super informative.

[@TheGreatEscape77]

Your so smart i love your videos, actually explains good and Shows us. Everyone else on youtube is just like yea! Get any many bids as possible and good luck!

[@Jorrellfitness]

You’re such a boss with this real estate game!! I love the grind, seems like you’re getting better and learning so much along your journey. Great video as always. 👍🏽👍🏽

[@animatedsmiles369]

A lot of times when you get a really large quote like that it could mean they don’t want the job due to multiple reasons and they don’t want to outright refuse you.

[@loveRP_Penasco]

You're so transparent. Love it. If I was young I would do that. Blessings

[@acesopopsi]

So much value in this video Lili killing the game

[@gregorylewis9442]

Contractors, 45, 45, and 10 paid, great tip 👍

[@paulblack3447]

Good Video. Please upload more videos like this. Just day to day from start to finish of what you do with your homes. Best to show a house from start to finish (sourcing the home, purchase, rehab, rent, etc.).

[@yourlocalrealestatenv777ho3]

Lili! Thank you for the awesome info you have the best content out there for beginners for futures investors! P.S whenever you are doing any type of renovation on flooring always buy extra materials many times I see this happening many investors send they guy’s to purchase the flooring materials they never add extra titles for breaking or or damaged. Next thing you know they don’t have the same title anymore or lot # they will have a high shade variance or perhaps is back order! Please save yourself another headache! you will have a problem for sure! Always buy 20% over for flooring install and make sure you double check your square footage! Thank you!! Great content I can’t say enough how awesome is you channel!

[@jeylaniiqasim9914]

This video is a golden nugget literally. I learned so much from you lili I want to thank you for this knowledge!!

[@ThaMajesticWun]

The "stopping in at different times at lunch" was from The Book of House Flipping by J Scott. You recommended it and it's wonderful. Just finished it. 🤓

[@RolexandRacecars]

LiLi you have sucha passion for this business. It always shines through!! Keep killin it, gf!!!

[@Liliinvests]

Thank you!!!

[@ivanhenry206]

YOUR AWSOME !!!!!!! BEST REHAB CHANNEL I HAVE SEEN !!!

[@casandrajones1630]

Absolutely LOVE your videos!! You are teaching me so much. I watch your videos like people watch TV shows. Thanks for taking us on this journey with you!!

[@brianagarcia8205]

Could you make a video telling us how many total units you have now? And how that has changed your life? Love watching all your videos!

[@GhostDog54]

Got back finally. Love the content and trying to get my business partner to watch your journey videos. We paid way more then what you are charging and getting maybe 20-25% of the things you are offering

[@strongwoman9527]

Strong woman great business woman new to the channel but this is very interesting and you can learn a lot!!! Keep up the good work sister!!✌️✌️

[@2-InfinityNBYND]

Great content! Thank you for taking the time to share. Maybe the specific color could be on the invoice? Anyway, nice solution for standardizing the paint.

[@breakingbrett5305]

Great video, Lili! Thanks for sharing in depth the behind the scenes process.

[@roses4me451]

Lili, thanks for sharing all of this knowledge and what it entails to rehab a property. I think it is a good idea to have your brother accompany you on the projects. Men will respect him and not be too quick to try anything on you being a female, and if you were alone. Safety is always first! Thanks for sharing.

[@kevinwilson9278]

You are very thorough. I am going to enjoy watching your videos, actually I am going to enjoy making my partners watch your videos. Keep up the good work!

[@bikenraider99]

Very cool video. That's alot of OTJ training. In the beginning I only did turnkey properties. As those gotore expensive I pivoted to properties that needed some level of rehab. Seeing this took me back. Good job and good luck

[@faysalbedani3rd]

I like the content. It's a learning experience. Construction material. Actually there's class of construction material I took a while in construction management. That's what I do for living construction scheduling.

[@vmiximv]

7min in and I understand why you have so many views! Well done Lili Thompson

[@Liliinvests]

Thank you!

[@TheDreamGreenShow]

Awesome work!! This is amazing!!!

[@malcolm__2x]

Loved this video! A lot of great tips, I’m looking to buy my first flip early February!

[@samtx5518]

Lili throwing golden nuggets…! Thanks

[@realestatemotivated]

Love your channel! Great detailed & authentic tips. Dumpster fees are often over looked.

[@annettetolbert1211]

One thing I had trouble with was folks in the neighborhood dumping their junk in my dumpsters smh.

[@DeniseNicole3]

LILI WITH THE FREE SAUCE !!! Love you girl 💋 can’t wait to keep following your journey.

[@tomaskey6844]

Love this channel! I have trust issues and won’t do a rehab until I semi-retire and can park my motor home nearby with my trailer full of tools. I’m also planning to use a body worn camera while doing inspections or dealing with contractors. Having a video camera on the lot would be great for tracking when the contractors are there. Thanks for motivating and educating us! Update; ordered the book Never Split the Difference. I’m Autistic/ADHD and need to stop giving money away. It’s hard to negotiate when you have social issues but it’s certainly doable with the right wok around.

[@Liliinvests]

Glad you enjoyed the content. Thank you! Stay tuned for more.

[@nanasjewel]

Hi Lili, you definitely have your Mother's heart and drive. Thanks for the insight 👍.

[@shericebsperspective2631]

She's such a BOSS! 💪💯

[@johnjohnrn8655]

Love love love. You are making me want to flip in the future. I need to master my buy and hold first!!!!

[@tannersanborn8456]

Little late to the video, but I am from the contractor world and also flip properties myself, so I thought I may have some good insight. Firstly, communication with your contractors may be the most important thing to take away from this who video. You touched on it briefly, but asking your contractors for other contractor recommendations is something that often goes unseen, but makes a huge difference. For example, drywall guys like to do things a certain way, so having painters that work often with those drywall dudes makes their life easier because they know what to expect when walking into a job. We prefer to always work behind someone we are familiar with because of this, and it often reflects in our quotes. If we know how the guy before us is going to leave things, we can accurately predict timelines, have smaller margin for errors in expectations and ultimately end product. Also, just food for thought, blue collars guys hate being micro managed. While I understand you want to oversee the job getting done, at the end of the day, you’re paying by the job, not by the hour. So if you show up and the crews are shooting the shit, or just taking a break, I don’t think it’s anything to stress over. I feel like it’s a little condescending to say you should change up when you stop in (i.e. take your lunch at different times so your contractors can’t predict you coming) to the guys you’re entrusting 10’s of thousands of dollars with. At the end of the day, they (or their foremans) want the job completed on time as badly as you do. Again, no beef, just food for thought.

[@jrlevita8823]

10:50 lol little things like this make you so likeable and down to earth. Excuse my attention to minute("mynoot") details

[@articalyout]

I really appreciate you taking the time to share with your viewers all these lessons, I wish you GREAT success. Keep up the great work.

[@aeonflux6155]

I love this! Great pointers. Also, @6:37, "(pre-)paid musician doesn't play well..." Mariachi pagado no toca buen son!

[@angiess808]

Just might re-download KZbin cuz of your channel!! Great content!!

[@drshakawa]

Preach on the dumpster 🙌🏾!!! My first BRRRR I paid over 4K on the dumpster fees that I had not anticipated. We had to take off 3 layers of shingles on the roof because the previous owner had just put layers and layers on. The tonnage alone on that amount of shingles on a duplex was a majority of the cost and then I didn't think to check but the subcontractors were also dumping from other jobs in my dumpster 🤦🏾‍♀️. #rookiemistakes Other than that amazing video, really shows all the different aspects you need to manage and how busy it can be doing a rehab. Lots of great snippets of information too that I unfortunately had to learn the hard way myself. Great job and thanks for sharing!

[@DeShonClark]

Did notice the change I n your swag and confidence …getting real comfortable

[@randomloverboy]

I’ve gotten so many book recommendations from you!

[@joanneb3524]

Was your cost on tile $3.50 per square foot a real number? I got a tile estimate to just lay tile...floor was prepped, vanity and toilet where out, I bought the tile and all supplies. The estimate was $26.00 per square foot. Guess who became a tiler?! (Thanks to youtube). I ended up doing it myself and I didn't fudge it all up! It was 35 square feet in total. I has called over 12 tilers and all said the job "wasn't big enough". The guy that showed up to give the only estimate gave off super sketch vibes as well.

[@rayellenkishbach8998]

I really enjoyed this .... felt like I got to ride along with you for a day.

[@Liliinvests]

Awesome, thank you!

[@Tht_f30]

Lili has tips for days y’all!!!! Queen of the tips. Good stuff Lili. See u on the next video.

[@randytroll8155]

45/45/10 rule is super cool thanks for that ideal

[@LaMovie_EnPlay]

I know it’s allot of work but I know it’s fun to be involved in everything and getting things done. God bless

[@vivianlandrum8507]

Dropping gold nuggets. Understanding how projects are estimated. Thank You. 45,45,10!

[@EvonArnold]

Super Thanks Lili

[@MissNancyLondon]

You can take a paint chip to a department store and they can usually match it

[@Liliinvests]

Thanks for the tip and watching!

[@hotelcalifornia715]

This is great stuff...lot of valuable insights for the BRRR and rental investor communiry. 🎉🎉

[@Liliinvests]

Glad you think so!

[@hotelcalifornia715]

@@Liliinvests please mention the city or the market you are in when you do the videos. That's gives an idea.

[@Ten0onefashiongallery]

Thank you for the help, I so needed this video 💚

[@courtneymcrose]

Another great one! Thanks Lilli.

[@Liliinvests]

Glad you liked it!

[@andrewdavid5174]

You have probably been told this already but figured I’d throw it out there. I’ve been strictly estimating commercial jobs very successfully for over 12 years. Rule of thumb is throw out your low bid and high bid then qualify the middle. Once you’ve qualified your middle bidder go back to your high and drive their price down. Then go back to your low bidder and ask them to take another look to ensure they have everything included that your middle bidder does.

[@FlowmotionStudios]

Lili you catch on fast. 45 45 10 punch out keeps the guys motivated. Nice to see you moving forward. Great video production as usual.

[@Liliinvests]

I appreciate that!

[@oco987]

Can’t wait till I start rehabbing homes

[@samuelabebe1354]

45/45/10 is a great idea!!! Works every time...

[@deionlett2]

As a floor restoration business owner, the $3,000 + quote is what I would have charged for a sanding and recoat. Great video as usual.

[@REVerbtalk]

Great video Lili!!! Mind if I answer the "why they so different" question? I'm a general contractor who pretty much was nothing more than a tradesman beforehand. Please bare in mind of the prices you mentioned. I will admit, I'm higher than most but not overbearing because I take quality over anything else including rentals, I'm still going to repair and rehab based on purchase home. That rental quality reno type I don't like that with the "patch work" and all that. But anyways depending on the sq ft, that $3,992 can very easily be quality of product/costs and not the cheap stuff you see in every single rental home to just get it over with persé so you can determine if they are ripping off by asking about the materials they plan to use. Also another thing too is although the calculations may add up to a certain PPSQFT, some work solely by the total job and not by ppsqft. That $4,000 quote, what was the scope of work on that and material type(s)(flooring AND underlayment or just tile straight tot he subfloor?) how long and how many people..etc? If they $4,000 and they buying cheapy stuff and lay and pray methods, yea, they are wanting more money with a quick way out or that "50% payout contractor"... like the one who ghosted you right out the door. Many entailments my friend. You asked the right question though! "Why is it this price", a professional would dive right in why.

[@SamuelGarcia-rf4th]

love this information! I'm just starting to do all my home renovations, and this video shares a lot of the thought process I never would have thought about. I appreciate the work you put into this!

[@jillbowden9103]

Lili you have been such a support with all your info..I am just finishing my first flip!! A 1915 house..completely renovated !! I jumped in all the way ha ha wish i could show you before and after picks!!♡

[@DeShonClark]

My hero'¡¡ getting into this game because of you…learning a ton

[@oneordinarycitizen]

Great tips. The most important things to know are what NOT to do. $3 per sf on the hardwood is very high. A lot of contractors think they can take advantage of women. Buy your paint at Sherwin Williams (they will get it right) and they will keep records for you. For tile you're going to pay about twice what the tile costs if it's cheap tile for all the other stuff you need (mortar, grout, backer board, sealant, etc).

[@zacharyfair6738]

tip - make contractors pay for trash removal. They will properly stack/place things in the dumpster. Just throwing stuff in takes up wat too much space. Have to put it in nicely = much better use.

[@archivaldoguzman8316]

Wow great video!!!! Appreciate all the free game. May god keep blessing you!!

[@HSS7564]

A Great Video !!! 👏👏

[@nicholasflamel1]

Loved reading Never Split the Difference by Chriss Voss, Great Read!

[@jimster7645]

this was a dope video. great on the job examples

[@Bluebird22200]

I had the same thing with electricians. All o wanted was one outlet installed for a microwave and one guy quoted me 1,300, while another quoted me 300. Insane. Always get multiple quotes!

[@dabetaman1]

Thanks for all your videos. You motivated me to start documenting my journey into Real Estate.

[@islandrn876kimbt6]

I’m a new subscriber and I watch you every night before going to bed thank you for all you share Lili I will eventually get where you are now

[@dabetaman1]

Thanks for this video.

[@gregb2]

i gave you a mad like, wish i could double it. get those estimates, when you fresh its hard to be confident

[@greatbritt3n]

This video has so much info that is right on time. Thank you!