Seeking Insight on Rehab Costs for a Property to Prepare for Sale

[Yong Jin Lee]

Hello everyone,

I've been closely examining a property listed on Redfin and am curious about the estimated rehab costs for a project of this nature. The property clearly needs new flooring and some repairs to the deck, among other updates. As someone who is still learning the ropes in real estate investment, I'm not entirely sure what an experienced investor would estimate for these rehab costs, especially with the intention of selling the property, not renting it.

Could anyone provide me with some ballpark figures for a rehab like this? I'm also interested in understanding how you arrive at these estimates. Additionally, if there are any resources or reading materials that you could recommend to help me learn more about this process, I would greatly appreciate it. Thank you for your help!