Estimated Rehab Costs

[Rhea Campbell]

I am in the inspection period on a property in a great North Tampa neighborhood called Carrollwood. The property sits on a double lot and has the following characteristics:

• -3/2, 2,141 sq. Ft, built in1958
• -Roof is 5 years old
• -AC is operational, but we don’t know its age
• -Ranch style home
• -Lot size is 167 X 200, .0766 acres, three times the size of most other lots in this neighborhood

My plan is to "sell" or wholesale the property and half the lot to a fix and flipper through a double closing (the agent didn't want a wholesaler in the deal), demise the full lot into two, then sell the leftover lot on the retail market.

Any guidance another professional can provide around demising Tampa lots, ie: do's and don'ts and who to contact and estimates for rehab would be helpful. The home is a full gut job except that plumbing and electrical is fine. Is $45/sq ft. a good placeholder to use in my underwriting for the Tampa fix and flip market?

Thanks,

Rhea