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Updated almost 9 years ago on . Most recent reply

User Stats

18
Posts
4
Votes
Brandon Walason
  • Warwick, RI
4
Votes |
18
Posts

SFR Rehab Estimates

Brandon Walason
  • Warwick, RI
Posted

Hey everyone, i recently came across a foreclosure that I feel has potential. As I'm new to REI, the thing I am most concerned about are the rehab estimates. I am familiar with the property, and know what it needs. Here are the main issues and some pictures of the property:

-Leak in bathroom ceiling, bathroom will most likely need remodel. 

-Full carpet upstairs and downstairs.

-New roof.

-Exterior needs a new paint job.

-Interior paint all around.

The property is listed for $116,500. My analysis estimates ARV at $151,000. I feel I would need to get the property for $80,000 - $90,000 to make a good profit after repairs. With these numbers, and the rehab estimate, does anyone have advice on if this is something I should pursue? Thanks in advance! Pictures down below.

Kitchen:

Dining Room:

Living Room:

Bathroom:

Basement Rooms:

Exterior:

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