03 Oct Ep. 46 Live From Shannon St. Pierre’s Rehab


In this episode, Realtor Adam Kruse and Realtor Shannon St. Pierre record live from inside of Shannon’s brand new rehab property. In the first in a series, Shannon shares exactly how much everything has cost so far and how difficult the beginning stages of getting bids for all the work has been. Who knew it can cost $15,000 to cut down a tree!

Email questions to PODCAST@HermannLondon.com


0:29 Adam and Shannon are recording live from Shannon’s rehab/investment property in Tower Grove
0:54 How did Shannon find her investment property?
0:59 What was the buying process like for Shannon’s investment property?
1:35 How much did Shannon pay for her investment property in Tower Grove?
2:04 What work has Shannon done on her investment property so far? How much yard work did Shannon have to do on her investment property?
3:00 Is this Shannon’s first rehab?
3:40 Is it easier to buy a shell of a house or knock down a bunch of walls?
4:06 Will Shannon be selling her rehab property?
5:00 Talking about specific numbers and costs of a rehab will help others learn how to rehab
5:23 What is a HELOC (home equity line of credit)? What can you do with $100,000?
8:22 How did Shannon find out how much her rehab was going to cost?
8:44 Is plumbing the most expensive part of a rehab? Is it possible to get 2 HELOCs on the same house?
10:30 How far off can an appraisal be?
11:45 Is insurance expensive for a rehab?
12:20 How expensive is it to have a tree service take down a tree?
14:02 What are the holding costs each month?
14:41 What is Shannon’s timeline to have the rehab finished?
15:08 How often will Shannon be at the rehab property during construction?
16:55 How big is a shotgun house normally?
17:18 How much is Shannon is hoping to sell the rehab for? What is required to call a room a bedroom?
18:55 How much are the electrical bids that Shannon is getting?
20:14 Can contractors be paid less if they are not done by the agreed upon date?
21:40 Hiring a mix of super qualified contractors and regular handymen
22:30 What is a hold harmless agreement?
23:45 What problems has Shannon already had?
26:04 What does Shannon expect to be done in a month?
27:00 Does Ikea offer design services to help plan out a kitchen?

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