Estimating Rehab Costs

[Evan O'Brien]

Does anyone have a template/document that they use when obtaining an estimated bid for rehab costs on a property from contractors which includes the scope of work required and a breakdown of the rehab costs (labor and materials) for each specific task? I’m looking to create a template that I use when obtaining rehab estimates from contractors for properties I purchase. Any feedback would be greatly appreciated!

[Steven Foster Wilson]

Quote from @Evan O'Brien:

Does anyone have a template/document that they use when obtaining an estimated bid for rehab costs on a property from contractors which includes the scope of work required and a breakdown of the rehab costs (labor and materials) for each specific task? I’m looking to create a template that I use when obtaining rehab estimates from contractors for properties I purchase. Any feedback would be greatly appreciated!

Hi Evan,
What I have done with my properties in Columbus was I reached out to 10 different contractors asked for pictures of the jobs they have done as well as pricing for each item. That has helped me have a better idea. Another way is to ask others who have used the contractors and get advice from those who hired the contractors. At this point, I have gone through 5 different contractors and I finally know what rehab and materials would be for this area.