Best tools for estimating ARV, Rehab costs and rent?

[Mario Cuartas]

Hello everyone,

I am wondering what tools and resources you all use to calculate ARV, Estimate rehab costs and calculate market rent for deals you are analyzing? What has worked and what hasn't?

Thanks,

Mario

[Kenneth Garrett]

@Mario Cuartas

For ARV I use Redfin and Zillow. I have compared my comps to brokers comps and I've been able to get the same results if not better. You still have to break it down to make sure you are using good comps.

Rental numbers I use rentometer, Zillow and apartments.com.  It works pretty well.  You need to compare your property against the competition and look at it objectively.  Do not use the zestimate.  It is generally not correct for rents or property values.

Construction/rehab numbers I use my own system.  I have been in construction most of my life and I’m pretty good at estimating cost.  When I estimate I walk each room and I identify what needs to be done to each and then work on the estimate.  Don’t use percentages or dollar per square foot it doesn’t really work.  Talk to other investors and see how they calculate.  I went to many property tours of investors to help narrow down cost.  It was a big help.