Sacramento House Flip Renovation Cost

[Brennen Cook]

Hello everyone!

New here to Bigger Pockets so let me first start off by saying this community is great. I've been aware of Bigger Pockets for the past few months of have recently started doing some serious snooping around. There are TONS of questions answered here and many VERY productive discussions. Thanks to Bigger Pockets and everyone who participates!

Now about me. I'm currently in Sacramento, CA and am planning on jumping feet first into the real estate business. I've been spending the past several month educating myself, doing some small networking, and connecting with other individuals who flip by any means. For the sake of time Ill skip most of the story =P.

Long story short, after meeting with legal counsel, I now have a viable business plan, a VERY reasonable way finance my flips, and what I believe is a good understanding and education to start with. Although I believe I have most of my ducks in a row, the only thing I do questions is my estimation of renovation costs.

I've been to TONS of websites and probably used if not checked out, most of those "renovation calculators". Now before anyone starts hounding me, I do understand there is no substitute for a THOROUGH walk through with notes. I'm not looking for that. I know how to make a detailed list and i have my own personal programs with calculate cost of a more detailed level. I'm interested in a more general rule of thumb is Sacramento.

I've heard alot of different versions, but they all generally equate to the same thing. There are different levels of rehabbing. For the sake of this we'll say, Basic, standard, designer and custom. Most people then attach a dollar amount to each level of design.

With ALL this said, I am looking for someone with some experience to give me some more concrete numbers for the Sacramento Area in a costs per square foot format. AGAIN, I understand that rule of thumb is NO sustitute and I also understand it take YEARS of experience to be able to walk into a house and be within ballpark of renovation costs. I just want to know if anyone has a rule of thumb for sacramento?

For example, if I said I had a home that would be standard level ( 3,2 1600 square feet) where houses normally go for around $250,000. The house is in need of some rehabbing ( New windows, Floor and carpet throughout, new paint, kitchen remodeling, etc.) throughout the whole house. If I budgeted $50 a square foot for renovation costs is that at all realistic? To low, to high?

I am simply trying to develop a good educated guess or rule of thumb, so I do now waste my time on walking through houses with note pads and pens that I cannot realistically fix and sell on my terms.

ANY help or education is GREATLY appreciated!

Brennen