Good ways to estimate repair costs

[Steve Pangborn]

Hey guys and girls,

I'm soaking up a lot of info here and one thing I keep running across is the need to put down accurate repair numbers. For someone such as myself which doesn't have a RE background or a background in construction trades, this is a bit difficult to do. I understand that as I gain experience this will come easier, but until I put the first few deals together I'm looking for some good ways to be able to pin a respectable estimate together for repairs.

Searching through the forums a a little bit, I've found a few things I can do but none of them seem very comprehensive and the ones that do, usually require something else I lack whether it be connections of funds. Here are a few ways I've seen it explained so far through a few forum searches:

* Hire a contractor to give a hard bid at around $100 bucks or so.
*Use a formula involving sq. footage of the house. Won't be accurage but will be a starting point.
*Chat up any GCs or crews I see while driving around trying to make connections to get discounts on bids/future services.
*Walking around local stores such as Home Depot or Lowes to get a feel for material costs.
*I've also heard that there are books which will tell you repair costs? The info on this was not really complete.
*There are for sure worksheets on this site which will help me focus my repair estimates, which I appreciate. Doesn't help me out without knowing what costs what though.

So starting out, it seems the most reliable, comprehensive way to do this is to go ahead and hire a contractor for a hard bid. Then again, that $100 or more for every bid, whether or not I pick up the property. (At least until I bug/do enough of them that I learn how to do it on my own) Problem is for a newbie like me I don't really have funding to shell out on that before I make my first deal or two.

Anyone have advice on a better solution?