philly shell for 10k...advise

[Joe Boggin]

im not quite sure how you define shell? im guessing you walk in the front door and see nothing but wall studs and floor joists. there are some properties where i work that are under 10k. they claim to be shells. these homes are small. under 1000 square feet. this one house in particular is listed for 10k but needs 10k in repair work with an ARV of 35-40k (thats what the realtor says)

my first rental needed new electric service. cost me 1500 for a new 220 line run from the street to my basement. 40 breakers and ground pole installed with all wires installed back into breakers. the wires running from the panel to the rest of the homes outlets were fine and didnt need to be addressed.

what should i expect to pay for the guts of a shell? not cosmetics and cabinets but the core. i dont want cheap cheap but i want to minimize cost. this is for my rental portfolio. how would you approach this....i figure i can get new service and rewire house for 3k? plumbing? i like the idea of keeping the entire house electric. no gas lines.

[Edward Burns]

There are too many variables to give you an answer.

Are there existing hook-ups for utilities?

Is this an abandoned construction project, or gutted by thiefs? If gutted by thiefs, expect to have some demolition costs. And possibily some damage during rebuild.

$10K for rebuild sounds low to me given HW heaters ($600) AC ($2400) Heating ($1000 Cheap baseboard electric), Drywall ($500-1000 depends on interior) Plumbing and electrical will depend somewhat on interior walls etc.

But the above are basically for material, now add on labor, permits etc. I can see real cost of over $25K easily and that assumes utility hook-ups are already ran and are adequate size.