Offer first, or have a contractor quote repairs?

[Marcos Duran]

Good morning Bigger Pockets Community!!

This is my first post of hopefully many and I’m very grateful for all I’ve learned and will continue to learn through bigger pockets!

Just a little about me: I’m a Texas Realtor in the South Texas (Rio Grande Valley) Area and I just completed my first year in real estate yesterday! It hasn’t been a great year (0 sales so far, 1 Listing, and only rental commissions) but there’s been a lot of learning and self realizations in my life that I’m positive will propel me forward in this career. My Fiancée also a Texas Realtor has had a better year and also started at the same time as me and we have high hopes for what is to come!

To get to my point for this post.

I have a friend who has family in another state and his family would like to invest in South Texas. Specifically my hometown because of several upcoming projects that can really impact the growth of the economy down here. There are 3 properties they want to make offers on however they want to know how much renovations/repairs will cost before they submit an offer. They also want me to find the contractor for the quotes and schedule them to go out and check out the properties. All 3 are Duplexes and one has an occupied trailer included.

My question is, should they first submit their offers and get under contract or should the quotes for the scope of work be obtained first?

P.S.: I don’t have experience with construction (yet) so I do not have the slightest idea of labor or material costs.

Thanks in advance for any advice!

I look forward to making lasting connections through bigger pockets and hopefully some good friends too.