From the course: Virtual Investing in Real Estate
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Determining the scope of work
From the course: Virtual Investing in Real Estate
Determining the scope of work
- [Instructor] Then once we decided, okay, we are going to move forward with this property, now we're going to create the scope of work. So what we did is we took a scope of work template and we used to have the realtor, inspector, and designer kind of work together. Not like actually sit down and work together, we used to basically take all of the information that we've compiled and then we worked with them and based off of those conversations, we would draw up a scope of work. With looking at all the pictures, all of the inspections, et cetera, all the data that we had compiled, now we're creating a scope of work with that. And then we occasionally would have the designer and the contractor if we had decided on a contractor or if this was, you know, our 10th deal in the market and we were using the same contractor over and over again. Now the contractor understands what we want, generally, in these properties, so we'd have…
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