estimating cost of repairs

[Marcin G.]

If you are not totally sure how much certain items might cost you IN YOUR city …would you recommend insurance adjuster tool called Xactware ? the way I envision that …during the attorney review I could draw the layout of the house and input what needs to be changed …the soft should tell me how much insurance would pay for that ..that I think might have something to do with how much I would pay for the material (?) …if the numbers check out …I proceed to closing. If not ..cancel the contract. I will need couple of flips under my belt to feel comfortable with material/labour cost in my area but I need a little hand-holdingnot to screw up my first one …working with GC is another option ...or both scenarios in one...?

[Tyrus Shivers]

@Marcin G.

First I would suggest J Scott's books. One is on flipping and other on estimating repairs. I would not trust the software, it may get you close or in the ball park, but even then I would still double check the numbers.

Since you are already drawing the layout, etc, just call around and price the materials from big box stores like Home Depot of Lowes, or whatever is in your area.

Also, get with a GC and get an itemized cost estimate. This will be marked up for the GC portion, but I would trust that closer than any software.