{"href":"http://player.captivate.fm/services/oembed?url=http%3A%2F%2Fplayer.captivate.fm%2Fepisode%2Fa0e90449-eaec-4600-a943-b0092fb1e1f0","version":"1.0","provider_name":"Captivate.FM","provider_url":"https://www.captivate.fm","width":600,"height":200,"type":"rich","html":"","title":"5 Keys on How To Create A Scope Of Work When Flipping Houses","description":"If you\u2019re doing any level of renovation of a house you MUST understand how to create a scope of work.\n\nAnd if you\u2019re thinking your \u201cinvestor-friendly\u201d contractor will do that you\u2019re sorely mistaken!\n\n***You can now TEXT \"SOW\" to 210-794-9898 to the Scope of Work Cheat Sheet \ud83d\udccb\nIn this episode, I\u2019ll show you the 5 keys \ud83d\udd11 you need to know about putting together a scope of work and how to execute it.\n\n\ud83d\udcd2SHOW NOTES\ud83d\udcd2\n\ud83d\udd11 Why You NEVER Rely On A Contractor To Create A SOW For You?\n\nA good contractor needs to know HOW to do the job\n\nYOU as the investor needs to know WHAT that job needs to be.\n\nYou know this by running comps and seeing what other houses IN THE AREA have done.\n\nContractors bring their knowledge and experience from doing homes all over the place. But real estate is location-specific.\n\nYou may not need to do to one house on one side of town the same work you will do to another.\n\nNeighborhoods are different, buyers are different, and houses are different. Comps will show you this.\n\n\ud83d\udd11 How Does The Process Work?\n\nI recently did a walkthrough of a project we are currently rehabbing.\n\nIn this video, you will see what it is that we look at when walking a house. At the end of this, I will also show you what the ACTUAL SOW looked like when completed.\n\n\ud83d\udd11 Creating A Scope Of Work\n\nNow that you\u2019ve walked the property and looked at the comps to determine WHAT work must get done you can walk it with your contractor.\n\nYou can tell them everything that must get done and see if they have other ideas in a better way.\n\nNow, you create IN WRITING a detailed SOW\u2026\n\n\u2705 What are they removing?\n\n\u2705 What are they installing?\n\n\u2705 Who is responsible for which materials?\n\n\u2705 When will the draws be made?\n\n\u2705 How much will be held back till completion?\n\n\ud83d\udea8BE SPECIFIC! BE CLEAR!\ud83d\udea8\n\n\ud83d\udd11 Dealing with Change Orders\n\nA Scope Of Work is a breathing Doc\n\nDepending on the size of the project changes will be made as the project moves forward. \n\nThis DOESN\u2019T mean you let them get away with everything as a \u201cchange\u201d order.\n\n\ud83d\udd11Don\u2019t be Emotional\n\n\u274cYou\u2019re not going to \u201csue\u201d them so stop saying that!\n\n\u274cYou\u2019re not going to hit them either\n\n\u274cDon\u2019t be so quick to fire\n\n\u274cDon\u2019t fight\n\n\u274cDon\u2019t assume they\u2019re always trying to screw you\n\n\u2705 Be strategic\n\n\u2705 Try to resolve all issues or misunderstanding\n\nThis is NOT an easy business. Don\u2019t be upset because you have to put in work.\n\n\ud83d\ude80BONUS TIP: Control the SOW\n\nDon\u2019t let them jump around too much. Control the phases. This way if you need to fire them you can get someone to step in.\n\n\ud83d\udcfd \u2702 Video editing is done by https://www.instagram.com/directordreday/\n\nTexas Real Estate Market Update 2021 [\u26a1First Quarter]\n\nhttps://youtu.be/jr2lzXtJnwY\n\nHere's more on how to invest in real estate:\n\n\ud83d\ude80 Wholesaling Houses Jumpstart Video Series [FREE] http://wholesalingtherightway.com/\n\n\ud83d\ude80 Don't know what's next? Schedule a Discovery Call with the Johns! https://courses.prymeacademy.com/StrategySession\n\n\ud83d\udea8 Don't miss Coffee With The Johns LIVE every Friday morning at 8 am https://youtu.be/qnfMFcqKlM0","thumbnail_width":300,"thumbnail_height":300,"thumbnail_url":"https://artwork.captivate.fm/5e79fbe3-4d42-4cbe-a991-bbc206aa64ba/qm5utii4wlpqsfqq23-e-fim.jpg"}