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Video instructions and help with filling out and completing Who Form 5495 Minimizing

Instructions and Help about Who Form 5495 Minimizing

How do you renovate a rental property to minimize your repairs so you're not paying through the nose? That's today's video, let's dive in. Hey everyone, I'm Clayton Morris, the founder of Morris Invest, a turnkey real estate provider. I've been a longtime investor and I own many rental properties. The key to a successful renovation on a rental property is to minimize the repairs down the road because we're all about cash flow. So, this whole channel is devoted to helping you create passive income and cash flow. Right? That's why we do what we do here. And so, if we have that cash flow coming in in the form of rental income, do we want to be paying it out to keep fixing stuff like windows, doors, refrigerators, and god knows what else? Of course not. So, how do we minimize our repairs when we're doing our rehab? Let's say you identify a great property. You find a great three-bedroom, one-bath house and you're ready to start the renovation. It's going to cost you maybe $15,000 to $20,000 to do the rehab. Well, what do you do in the property to make sure... Well, here's what we do on our properties. Let me show you a total disaster of a house that we bought recently. This is a typical one of our properties. You can see here how much of a disaster it was on the inside, right? We had ceilings falling in, we had terrible flooring, you know, everything. It was a total gut rehab on the property. So, when I'm starting with a blank canvas like that, what we like to do in all of our properties is simple. We want to make sure that the main mechanicals, the main systems of the house, are fully...