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

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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

WHAT’S INSIDE

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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