New BiggerPockets Article: The Real Estate Investor's Guide to Putting Together a Scope of Work

Scope of work are a hassle to put together but they are essential for real estate investors. That is what my latest article at BiggerPockets delves into; both the upfront estimate side of things and the more detailed scope on the back end.

Regarding the estimate, I highly recommend J. Scott's  The Book on Estimating Rehab Costs.  Regarding the scope, I highly recommend making it itemized down to just about everything (OK, "two outlets covers" can go on one line.) In the article, I explain three reasons why,

1. It’s much easier to spot things that are overpriced. You can also bid things you are on the fence about and see whether the price makes it worth it to do or not.
2. It’s easier to compare one contractor’s bid to another since you know they are bidding the same thing.
3. It reduces miscommunications, and you can make sure the contractor is bidding all of the work you want done.

And I go into a lot more than that on how to create a scope of work. Check it out.