Ep 15: The Real Reason Iowa Flip Budgets Blow Up Mid-Rehab
What if the contractor never lied, and the rehab still ran six thousand dollars over budget?
Most contractors are honest. That's not where Iowa rehab budgets actually blow up. The real problem is timing: there's often no checkpoint between money going out the door and work getting verified, so by the time an investor notices a problem, two or three draws are already gone.
Take a recent West Des Moines flip budgeted at twenty eight thousand dollars in rehab. By the time it wrapped, it had run to thirty four thousand, because draws kept getting approved off a phone call and a couple of photos…
The skinny
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