Estimating rehab costs

[Samarth Patel]

Hello,

I am looking to do a BRRRR deal in Connecticut and looking to see how you guys approach estimating rehab costs on a property. I have come across a few BRRRR deals and have tried estimating the rehab costs myself, but I feel like it might not be the most accurate. Are there are resources, books, etc. that you have found helpful in developing an estimate or scope of work? I also explored the idea of paying a General Contractor to come with me to look at the property and developing a detailed scope of work, that then I can use to solicit bids?

[Filipe Pereira]

Hey @Samarth Patel, Jay Scott has a great Bigger pockets book on estimating rehab costs, you should check it out. Personally, I'm a bigger fan of the "pay a contractor" method. At the end of the day, it's the contractor that is going to do the work for you, not the book. Therefore, in my opinion, what the contractor says is more important than what the book says. 

Plus, once you meet with a contractor enough times, and receive enough quotes, you will get a good idea of what things costs. Let me know if you need any referrals for the Hartford county CT area.