Calculating Rehab from only an outside look

[Bryan Berrios]

How do people estimate rehab costs when driving for dollars for off market properties when all you ever see is the outside? Like if a property is vacant with out of state owners? You obviously can see the state of the exterior but you don't know if there's messed up plumbing or if it's trashed inside. For example, how does a wholesaler see a distressed property and find the info for an accurate rehab estimate to be able to present it to an investor? 

[James Wise]

Originally posted by @Bryan Berrios:

Originally posted by @James Wise:

Originally posted by @Bryan Berrios:

How do people estimate rehab costs when driving for dollars for off market properties when all you ever see is the outside? Like if a property is vacant with out of state owners? You obviously can see the state of the exterior but you don't know if there's messed up plumbing or if it's trashed inside. For example, how does a wholesaler see a distressed property and find the info for an accurate rehab estimate to be able to present it to an investor? 

Experience. There isn't a short cut to understanding a trained skill like this.

 So being a seasoned investor, what advice would you have for someone like me when it comes to estimating? I understand I need experience and ultimately I will get it if I plan to go anywhere but I'm just looking for some tips to help the transition. Any help is appreciated. Thank you. 

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