First House

[Herlando Y.]

Hello BP,

I am in central jersey and trying to acquire my first property. Property is built 1970's. It is very clean inside and the electrical and plumbing all seems to work. No mold in sight and structurally sound.  

The numbers all seems to make sense until I got to the rehab cost. The property have the following issues: require new roof, 4 doors, 3 windows, 2x kitchen update, 2x bathroom slight update, appliances, new Hvac system (heating is electric baseboard) and other touch ups like paint and etc... i contacted 2 contractors and they gave me between 40-59k rehab cost. 

I know I am a newbie, but I am floored that the cost is so high. Am I not getting the right contractors or is this the normal rehab cost for flips?