Am I paying too much for a gut rehab in Berkeley?

[Hayden H.]

Hi Guys,

I was quoted 190K for a gut rehab of a single family home ~1200 sq ft in Berkeley. The footprint of the home is staying the same but we are changing it from a 2 bedroom 1 bathroom to a 3 bedroom 2 bathroom. We are also adding a bathroom to the garage. Since its a gut rehab down to the studs, it requires new plumbing, electric, some new framing, roof, floors, windows, doors, paint, trim, insulation, drywall, recessed lights, kitchen, 2 small decks, garage door, porch repair, re-concreting driveway, landscaping front yard and back yard (very small lot 2,200 sq ft). Finishes will be mid-tier, basically what you see in most of the flips nowadays, quartz countertops, mid tier appliances, vinyl floor. 4 months of estimated rehab time. This comes out to be roughly $158 a sq ft and was the cheapest of 3 quotes I got. 

Any thoughts?

Thanks

Hayden

[Hayden H.]

Hi Guys, checking back in. Just sold the flip for 200K+ profit. Pretty crazy for my first one, will do a longer/detailed post in the Rehabbing and Flipping forum. Stay tuned.