Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago,

User Stats

20
Posts
1
Votes
Yuriy Grytsulyak
  • New to Real Estate
  • 19426
1
Votes |
20
Posts

Property rehab estimate

Yuriy Grytsulyak
  • New to Real Estate
  • 19426
Posted

Good morning all,

I am new to REI, and have been looking for my fist property to BRRRR. I have watched and read a bunch of BP youtube videos/posts as well as other information available. So far I have seen several properties, talked to a number of listing agents, and even gave them several verbal offers. None of my offers have been accepted so far but they were not too crazy low balls per listing agents. To better refine my offers I am trying to tighten up my rehab estimation as I fill it is the weakest link in my analysis right now. I have brought a general contractor to one of the properties i bid on but he just gave me a rough total rehab cost, which is only somewhat helpful. Could any of you share actual costs of your rehabs with descriptions? The more granular the better. And yes, i have seen the rough estimates online, but it is hard to go by them (maybe at first) as they seem to overgeneralize.

Here's a house I am talking to listing agent right now about: built in 1900, 1900 sq ft, 5 bed 1.5 bath, 3 stories. could be rented to section 8 for 1600, asking price 120k. overall the house has good bones but was neglected, the whole thing needs to be repainted, 2nd and 3rd floors needs vinyl flooring install in place of old carpets. There was a roof leak in one of the rooms, the roof has been patched up but the ceiling and the wall of the room have water damage, at least drywall needs to be replaced. There's a low water pressure in the pipes, the basement is moist and will probably require water proofing. Bunch of small things like railings, doors, blinds, etc need refresher. What do you think a rehab would cost?

thanks in advance.

p.s.

are there any eastern PA investors here, i'd like to connect to grow my network and maybe help each other (not sure how for now)