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Updated over 6 years ago on . Most recent reply
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How do I learn the cost of repairs?
My wife and I are just starting our real estate investing journey. We've consumed as much information as we can in the last month, but we're stuck on how exactly to start implementing. For now, we're primarily interested in flipping. I want to use the Rehab Estimator calculator to start running the numbers to find good deals but I'm stuck on how to estimate the cost of repairs without totally guessing... Is there typically a rule of them for these things? Or do I need to connect with a contractor and learn from them?
Thanks in advance!
Most Popular Reply
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@Bryson Gilbert network with other investors. Ask them about their deals and the numbers. Take every opportunity you can get to visit another investors project ans pick his or her brain about the repair numbers. If you ever pass a property being worked on stop and ask to take a look. You'll either meet another investor or a contractor. both can be valuable resources.
i also suggest you buy the book by @J Scott on estimating rehab expenses. It is available here under the Store tab