How much will it cost?

[David Soest]

I'm trying to figure out the total cost of a renovation in the Midwest.

On a house I'll sell for 150K, would these numbers be enough? Doing most of the work myself.

Flooring, 1300 sq. feet, $4,000.00

Baths, (2)  $4,000.00, 2k each.

Kitchen  $6,000.00, solid wood cabinets and granite tops.

Exterior, vinyl siding and windows  $10,000.00

Misc. problems,  $5,000.00

The house would be in the Midwest, near St. Louis. I know in Galveston Texas I can do the kitchen for $5,500.00, I've had two done, the windows and siding up there should be cheaper, no windstorm to deal with.

The last two houses in Texas I did everything in the kitchen except the cabinets and countertops.

Were thinking of moving up there and doing flips full time.

I'm just a little nervous since it would be our only source of income as opposed to here I have my door business.

Thanks for any advise or comments.

[Christopher Brainard]

@David Soest

The prices you're proposing seem inline for inexpensive finish materials, based on what I've done on my past few projects. Living off flip income is a separate subject - I hope you have a sufficient buffer to wait out any delays in renovation and/or sale.

-Christopher