Estimating ARV and Rehab

[Erin Auman]

I have set myself a goal this month of learning how to analyze deals well. One thing I am currently struggling with is ARV and estimating rehab costs. I have an agent who can pull comps for me, but when the comparables deviate from the subject property, I'm not sure how to make accurate adjustments. I also don't want to waste a contractor's time walking properties that I know I'm not going to offer on during my learning period, so are there any good rules of thumb for estimating rehab?

[Tyler Gibson]

@Erin Auman Offer to pay a contracor $50-$100 to walk a property with you. You are then no longer wasting their time you are paying for it. Also BP book on flipping talks about how to adjust ARV based on differences in comps. I suggest that book.