Mastering Residential Remodeling: Bud Evans' 31-Step Process to Real Estate Generational Wealth

Speaker 1: 0:02

Welcome to the Aim High Podcast, where we provide real estate investors with the tools to achieve generational wealth through real estate. I'm your host, bud Evans, and this is show number 58. Today we're diving into the intricacies of residential remodeling projects with a 31-step process that I meticulously follow, from pre-construction planning, checking contract or licenses and managing critical documents, to the excitement of drywall-based signaling the nearing completion of a project. We'll explore each phase, including demolition, exterior work, rough ends, inspections and the final touches of landscaping and staging. This episode is packed with insights on managing a successful remodeling project, ensuring everything from permits to inspections is flawlessly executed. So, whether you're a seasoned investor or just starting out, join me as we navigate the complexities of real estate remodeling and AIME Hi in our journey to generational wealth.

Speaker 2: 0:50

Hello everyone. I had a little bit of extra time. I was planning on doing some sort of meetup tonight. However didn't happen, so I'm going to record this quite quickly, go through this in about five or 10 minutes. I had a question earlier today about how do I progress through my steps. I wanted to just go over this about a 31-step process. I'm sorry, I'm a little OCD, but here's how I go through and order work on a residential remodeling project. First thing that I'm doing is I am going through the pre-construction planning babies. This is where our critical documents are presented to the contractor. So we check his license before we go there. We have an independent contractor agreement that they signed. We go through all of that. We have the scope of work that we built. We show that we get the payment schedule out. They sign that and then an insurance and demunification agreement which shows that they are licensed, they are bonded and that we are an added insured on that. And we also hand them a W9. They put their EIN on that and then boom, we pay them and then 1099 them at the end. We also talk about our lean waiver system and whether or not we're getting partial lean waivers per drill or just the final one, and then we get the permitting started. We got our drawings admitted and all in the same folder we go through our process, starting with our demolition, where we order our cans. We get that all taken care of. While we're ordering those cans, those permits are coming in. We'll start the exterior roofing, what probably we do whatever it takes to make the house pop so that people can see that this thing is under construction and we're going to get this thing moving. We'll get the can out there, the rollaway container, as they call it. We'll get some minor landscaping done, some cleanup, get everything cleaned out of the house and then it's on. Roofing gets done. We'll do some exterior painting, framing if it's required. Guys, while that roof is getting put on, we are getting our rough ends, all that kind of stuff, and we're making sure none of our subs or subcontractors are stepping on each other's toes and we're immediately ordering our rough-end inspections at that point in time. So that way everything just shows up when the inspector comes out and all of that stuff is done, we're going to probably have corrections. It almost always happens where something needs to be reinspected. We order that reinspection. We get into the insulation, get that insulation inspection done and start with the drywall. I love drywall day because when drywall day is there we are probably about 21 to 30 days roughly from completion. Throughout the drywall we get our painting up. We get our cabinets, countertops, doors and windows my big six roof windows, foundation, electric plumbing and HVAC. We get those taken care of. Where we're going to go. We get those doors and windows put on. Sometimes, depending on the area, I will put new doors on for security. I may put new windows on the first floor also for security, so that they're functional. A lot of times that happens so outer tops, especially in rentals, most times I'm using granite. We're cleaning the house. We're getting our first cleaning on the house. It's not one cleaning at the end. So we're cleaning the house. We're cleaning the air vents, the HVAC has been put in, we have central air and forced hot air going and then we're gonna take out that filter because it's probably disgusting. After the drywall we're gonna start our trim and finish work and we're gonna finish our paint. We're gonna then start hitting our finishing on electrical plumbing. We're gonna put up our lights, we're gonna put up our ceiling fans. We're gonna make sure that all of our vent covers are on, then we're gonna get to the outside. We're gonna work on that landscaping. With that landscaping we're gonna put some pop out there, maybe some mixed colors, like a red, like a burning bush or something like that. I love the little gum drop things because they spread real nice, can contrast that. They're a light green along with some dark green shrubs, and then we'll throw some of that burning bush in there, so you have a really nice trifecta of color out there. It gives you some real pop. We create a final punch list and we do a gecko tape walkthrough. Why gecko tape, not blue tape? Blue tape rips paint. Gecko tape it should pretty much pull off pretty quickly. As we're going through that landscaping before we even get to it. We are ordering our final inspections. We're doing that walkthrough with that final punch list and then the inspector's gonna come out there and hopefully we pass on the first shot. Otherwise we do reinspections. Once we get our reinspections done for the CO, we get our I'm sorry, our final inspections. We're getting our CO. So we're gonna need certifications on the HVAC system, the plumbing, the electric, all that stuff, your roof. If you have a chimney, you're gonna need a certification on that as well. We do our final painting, touch ups and then we get our professional cleaning in there. Staging, guys, I don't know about your market. Check your local market. If staging is required in your market, days on market are like 45 days, 60 days Great, let's go ahead and do that. Out of here. Where I am, we're hitting like five to seven days on the market Staging I don't do it. I've staged one property and it was actually the longest time that it took me to sell a property and we make sure all the permits are closed out and that certificate of occupancy inspection happens and then when that happens, boom, we're done. The property goes on the market before you actually get your CO, believe it or not, you're gonna go out, you're gonna get your coming soon coming. So I'll make the air quotes coming soon on the MLS and you're gonna put it out there. So that is pretty much all I had. I had a question that I wanted to address and since I figured I was answering it for someone, I should answer it for everyone. So, guys, that's all I got. Thank you very much. Until the next time, say my.