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Episode 76: Budget-Friendly Flipping: Insights from a General Contractor
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In this weeks episode of the "Live Life by Design" podcast, our hosts tackle the complexities of flipping properties on a budget with special guest Fausto Miranda, a licensed general contractor with over a decade of experience. Together, they explore strategies for maximizing return on investment in real estate projects, with a focus on practical, cost-effective approaches to rehabbing properties.
Some of the key insights discussed are:
- Identifying essential repairs versus aesthetic upgrades for rental properties and flips.
- Budget-friendly alternatives to high-end materials like quartz and tile.
- The importance of understanding local market expectations when planning renovations.
- Avoiding pitfalls from TV portrayals of real estate investing.
- Building strong, lasting relationships with contractors for consistent project success.
Fausto shares valuable insights on navigating hidden costs, making smart material choices, and tackling common issues such as outdated plumbing, electrical systems, and structural damage. This episode also highlights the importance of assembling a reliable team and staying grounded in realistic expectations to avoid costly mistakes.
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