How do you estimate repair costs?

[Owen Thornton]

Hi. I was curious how you go about estimating repair costs.

I have gotten pretty good at analyzing deals themselves and figuring out what purchase price/LTV will help optimize returns... but in such videos as Brandon Turners ( attached below video)

..

I tend to struggle to figure out where you exactly get the figures for a rough repair estimate without a contractor inspecting the property. 

I understand it comes with experience, though is there any general rule you should follow? 

[Scott M.]

Not a super helpful answer but experience.  Just like you have 'gotten pretty good' at analyzing deals, same thing will happen with rehabs.  It all comes with experience.  You were probably terrible at analyzing deals when you began but over time have gotten pretty good.  

When I started I knew nothing.  Had a contractor that would go to each house, I paid him for his time and I walked the house with him and asked 100 questions in every house.  Online videos were not available then lol so had to do it old school and walk it with guys who had the knowledge.  I paid them for that knowledge and their time and over time learned.