BP what is with this new rehab estimator?

Question

Maybe i just don't understand the new system but why did you change to a system that is completely non-customizable, has limits to it, and is very inaccurate. I understand that some new investors may like numbers thrown at them...but when they are so inaccurate what good does that do? I have religiously used the older system and tightened up my estimates thanks to the capabilities that it offered along with knowledge of my market. In the new system a bathroom that would run 4-5K, is estimated at $15K...2000sqft home - flooring =$3000...these numbers a laughable. And then it caps me out on only a certain number of projects.

Please fire Kukan and bring back a simple system that allowed the paying customers to adjust to their market.

I may be the loan wolf out on a limb and while I love BP - this system is giving it a bad name and a commercialized none helpful feel.

Craig Parsons · Answer

Then why would it exist? I mean I wouldn't use it but I don't use any of the BP services other than the forum. Either way what would be its reason if a newbie couldn't at least get an idea?

Nate Slappey III · Answer

hey @Gabriel Miritello thanks for the feedback. Would you be open to getting on a zoom to walk me through how you are using the new rehab estimator and where there are gaps? I know the holidays are coming up but if you'd like to chat feel free to send me a PM and we can set up a time

David Robertson · Answer

Here's the problem with estimating tools that "estimate for you"....if you are using the new BP Rehab Estimator tool you have no idea how any of these prices are being calculated and most of the calculations are wrong. I tried out the new BP "Rehab Estimator Tool" and it looks like you have zero control over the cost of anything. All of the prices are provided by "Kukun" with no ability to customize the pricing or use your own prices. Every investor across the nation should have their own pricing sheet that they use that uses their specific materials and labor prices from their local contractors. You should not be using someone else's prices (or Kukun's algorithm), you should be using your own prices from your local contractors and using the specific material selections you picked for your project. Here's an example of how bad some of the data is in Kukun and why it's not practical for investors that are wanting to create accurate estimates for their projects: I just added "Exterior Doors" to my project, and I was told that 4 single doors and 1 double door is $59,352 in Kansas City, MO which is 20x what I would actually pay as an investor. I believe the above was a bug, but nonetheless there was no way for me to fix this issue or understand why or how it was calculating this value.In summary, you don't need a fancy algorithm to tell you what something costs, you just need to know basic math and have a general understanding of how much materials cost and what contractors charge for specific repairs. For example, if I have 5 exterior doors I need replaced (4 single entry doors, 1 french patio door) this is how I would estimate the costs: - Single exterior doors labor 4 x $250/each = $1,000 - Single door material 4 x $300/each = $1,200 - French patio door labor 1 x $400/each = $400 - French patio door material 1 x $750/each = $750 Total = $3,350 Add 25% profit for your contractor and the quote should be around $5k for 5 doors. The hard part is finding out what your contractors charge, after that it's just basic math that you can do in a spreadsheet.

Gabriel Miritello · Answer

I think you guys are all correct. You can't use the new system to estimate if you're a newbie...its inaccurate, clunky, and wont allow you to easily do a whole house how you want to categorize it.The old system was great. While it didn't auto populate numbers for you(both a good and bad thing in my eyes) it did have a ton of items that a newbie and oldie forget sometime when doing a reno. It allowed you to add unlimited items and helped me really estimate. Yes I had to get quotes, but I didn't want an estimator to give me false numbers....I want it to help show the picture and easily add up all the repairs based on my estimates.BP really should dump the sponsors crap with this one and go back to the old system. I get they want to make money but at what expenses...I pay for pro for the products and this product is bad.

David Bruce · Answer

agreed too clumsy and not able to get to nuts and bolts relying on calc that is not market specific.

Eliott Elias · Answer

If you're using the BP rehab estimator to budget for reno you probably shouldn't flip a home. Way too inaccurate to properly estimate repairs

Gabriel Miritello · Answer

Nate, I'm up for talking, send me a PM. Thanks