Ep 7: The Four Words That Keep Your Iowa Rehab Honest
What does an eleven thousand dollar paint job have to do with the difference between a good flip and a break-even one?
A scope of work is supposed to protect your rehab budget. When it is missing, vague, or living only in a contractor's head, that gap turns into real money, and it shows up fast, right after demo day when your leverage is already gone.
Most flips do not fail on the purchase price. They fail somewhere between the sledgehammer and the final walkthrough, when nobody wrote down exactly what the contractor was supposed to do. Neil Timmins walks through the paint job that started…
The skinny
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