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Updated almost 17 years ago, 01/26/2008
1st Project
Ok, here is my situation:
I have single family under contract at $60,000. I have checked my comps. well and the ARV is approximately $130,000.
I have not gotten inside due to a complicated situation. I know the neighborhood and I know my comparables.
I have done my rough numbers on repairs. The house needs a roof, a kitchen and one bath. Also, exterior and interior painting. The house is small, approx. 1500 sq. ft. I think I can keep it under $35K for repairs.
My next step is to get quotes. Should I get 2 or more quotes on each of these needed reapirs? Is it overkill (and a waste of valuable time) to get more than 2 quotes?
Any advice on where to go from here?