Starting Out
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 8 years ago,
a rant, however newbies without knowledge should learn.
I wanted to help you guys out. I am finding local wholesalers do not know actual costs to fix a property properly.
I have seen a few tell me $15k in repairs when I know that is the materials costs......no clue
reasons why..... most don't take time to learn....that's what the seller said......don't know all materials to install.....nor time it takes to install properly and not be a piece........
but it all boils down to not being taught or not knowing how to get a person who would know. over time you learn after receiving 80 plus outside bids.....
repairs are a job. and if you do them yourself, take your time!! and pay yourself because it's the sure fire way to know your deal for the wholesalers.....
I charge avg $100 per sq labor only ..... minimum for a roof......you should charge yourself if doing your own work what a customer will pay you because it's true accountability for the deal.
if you need extra time, you know what is average by doing it and length of time to say refinishing your hardwoods or lay the shower surround, which takes two days properly......
this keeps people lie myself who know a minimum job kitchen is $5k can be more.
when I fabricate granite, I buy from wholesalers the charge for fabrication.....just like I charge my personal deals for fabrication. it's money that cause deals to flop instead of flip.
if you don't know ask...call a supplier for their pricing to perform the task and estimated time. take time to know so when you say 15k it is a solid minimum charge of 1:1 materials labor.....or market rates....
hint:. insurance underwriters get a monthly rate sheet o tell them current payout conditions based on current averages market wide and national wide......
of you do not know or question yourself ASK FOR HELP. AND LEARN.
we construction people do not mind helping so we know and you know it's accurate as possible.
we can provide detail materials lists and estimates. consider paying $500 for report and list from a good handyman or service provider. it may just
save your profits.