Renovating Homes in 2023: Strategies From An Investor With 20 Years in the Game w/Jim Cooke

Whether we’re remodeling an investment property for a buy and hold or flipping it for a quick turnaround, navigating renovations and construction can be a minefield, especially in this market.

 

This is an area where extremely expensive mistakes can be made, and one way to avoid them is leaning on the experience and expertise of seasoned renovators.

 

How do we avoid over-renovating? Where can we find contractors we can trust?

 

In this episode, I’m joined by the owner of Cooke LLC, Jim Cooke. With 20 years of experience renovating investment properties, he shares what every new investor has to know about this critical aspect of the game.

 

Don’t fall in love with the property, it’s not your house, your goal is to get it to comp. -Jim Cooke

 

Three Things You’ll Learn In This Episode

 

• High-level budgeting strategies you have to be aware of
  How do we determine the money and effort we need to put into a project for it to be profitable, and not a money pit?
  
  
• The key to contractor relationships
  Why would a contractor choose to work with an investor on a repeat basis?
  
  
• How to shift your strategy with the market
  As investors, we have to deal with material shortages. How do we shift our strategies to keep up with changes in the supply chain? 

 

Guest Bio

Jim is a real estate investor and founder of Cooke Realty LLC. With 20 years of flipping experience under his belt, he has handled just about every type of home renovation.

Connect with Jim over on LinkedIn.