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Updated 8 months ago on . Most recent reply

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Ryan Dickerson
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Construction cost estimates/guides

Ryan Dickerson
Posted

I'm a new investor in Seattle and have been analyzing flips, short-term, and long-term rentals using Dealcheck and some proformas that local agents and investors have sent me. Does anyone have a trusty renovation/construction estimate calculator or guide they use for our market? 

I have used Coach Carson's recommended spreadsheet from "Woman Builder" (linked), and it's excellent for listing all the various cost categories I may confront on a project. However, I haven't found a good source for quick estimates based on the size of the project, year of build, etc., specific to our market. I'm still looking for a general contractor, but I don't have regular deals to make a GC's time valuable when estimating each job. I want to assess independently before reaching out and doing further due diligence with experts. 

Any recommendations? 

Most Popular Reply

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Jonathan Klemm
  • Contractor
  • Chicago, IL
2,529
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Jonathan Klemm
  • Contractor
  • Chicago, IL
ModeratorReplied

Wow, @Ryan Dickerson I love your post because you seem to be on the right path.

Figuring out your construction cost and building your team prior to entering into deals can alleviate a lot of stress during the project.

Also, your respect and understanding of the value of a general contractor's time is impressive.  Here in Chicago, we charge to walk properties with our clients, so you could double-check with some of your local GCs in Seattle to see if you could pay them for their time.  Walking projects and hearing their thoughts will help you elevate your game and look at things differently.

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