Estimating cost of gutted to the studs rehab in Michigan

[Isa G.]

Hello BP, 

I got a 1,672 sq ft house under contract that I'm looking to wholesale. It's in Charlotte, MI (about 20 miles SW of Lansing) and is gutted to the studs inside. Has anyone completed a rehab for a property like this? I know it depends on many factors, but is my rough estimate of around 60k in the right ballpark?

I can provide more info if that would be helpful in answering this. 

Thanks,

Isa

[Brandon Sturgill]

@Isa G. $70-90/sq.ft if there are no mechanicals...what shape is the exterior in...roof? siding? foundation? drainage? there are probably guys that can put the property back together for $60k, but I would look at their scope and background very closely.

I've seen dozens of guys get burned on gutted properties they think will cost $50-60k to get rent/sale ready...maybe this is who you want to flip your contract to...just watch the progress and be prepared to snap it back up when they run out of money.

In reality, you should have an architect/engineer on the scene to develop the scope and construction cost estimate.