Estimating Rehab Cost with VA's

[Cody Dover]

Technology is rapidly changing and so is the method of outsourcing work overseas letting Virtual Assistant's do some of the "technician" work. With that, how could one estimate a ballpark rehab cost using pictures and/or just knowing what needs to be done like tile flooring, kitchen, bathroom etc..

Is there a genric formula you can use to come up certain fix ups on a property that I can outsource out to my virtual assistant? Or just for my own knowledge at that.

[Eric F.]

@Cody Dover you need to crawl before you walk. VAs are all the rage, but how can you train a VA to do something you cannot do yourself? You can't. Your idea of sending a contractor out to look at it before you step foot into the property yourself is insulting to the contractor's time.

I don't want to be rude, but worry about saving time looking at properties until you have too many deals to run your business any other way. If you have not done a single rehab yet you don't need to to spend your time creating systems to handle 20 at a time. 

Stop worrying about VAs and systems at this point in your career. Do some deals first, then worry about scaling up. If you spend all your time reading about VAs instead of calling sellers to find deals you will never have deals. Too many investors spend time reading about crap they may have to know far off in the future they never do a deal in the present. It drives me crazy to see people trying to figure out how to "virtual wholesale from anywhere with VAs" and spending hundreds of hours reading about it when they have never even sent a damn postcard or gone on a seller appointment. 

Books like the Four Hour Workweek are great, but the biggest crime Tim Ferriss ever committed was leaving out the fact he worked 80 hours a week for years so he could work 4 (which he never actually did, it was a marketing gimmick)