Updated over 6 years ago on . Most recent reply
Stuck- I don't know what a rehab cost
So, i have been looking at properties in the gainesville area. I have been plugging numbers left and right in the BP calculators, however, without a home inspection, or contractor on site, it has been difficult to trust the numbers. In particular the rehab numbers. I know what my money will cost (interest rates), but the rehab?..... different story. And to me, the biggest piece of the pie is rehab for my BRRRR strategy. I mean, we do have rentometer, zestimates from zillow, comps from zillow, amoritization calculators, but on a major rehab job.....(speechless).
Now, most say to pay a contractor a few dollars. Well, I guess, but this could get costly. Sure invest in your business you say. But, is there a repeatable strategy you use to mitigate this cost? Every house is different. Does Jay Scott's book really lay it out? Is a REI agent the answer to get close before you make the offer. Going wrong here, would not be ideal, if you plan to make money on the refinance. Since, i'm borrowing money, this has to be right. So i can get away from the banks. okay, rant over..... I NEED ADVICE.... GO!