Average rehab cost

[Donna Coulter]

Hello Bigger Pocket Community, I live in Detroit, and wondering what investors or rehabbers are paying, on average, to rehab homes these days? 

[Travis Biziorek]

This is highly dependent on a few things:

1) The current condition of the property. Is this purely a cosmetic update or does it need a full gut... or something in between?

2) What is the intended goal? Are you flipping or just getting it rent ready?

3) What are your existing relationships like? I can get work done for probably 30-50% cheaper than the average investor in Detroit. Probably even cheaper if you've never worked with contractors there before because you will almost certainly screw up, get taken advantage of, etc. and have to spend twice on one or more items.

I've done small cosmetic updates for $10,000 and full guts for $160,000.