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Updated almost 8 years ago,
Estimating rehabs and refinancing
Hello everyone,
I'm pretty new to the real estate investment world and I'm analyzing my first properties, but I have the following questions regarding rehabs and refinance...
How do you accurately estimate for closing costs? (A breakdown of what are the specifics closing costs would help)
How do you estimate rehabs accurately? I see there are many things to consider and it depends a lot on the property conditions, but how do you get some ballpark numbers if you haven't seen the property yet? Is there any database online with materias and labor costs?
About refinancing thinking on the BRRR strategy, how can you be sure that your property will get refinanced to pay off to your investor? If you don't get the refinance what other alternatives you have pay your investor? What would be the best alternative exit plan?
I'm sorry if my questions are a little bit open or unclear but I still trying to figure out if I want to focus on buy & hold or BRRR.
Thanks!!!