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Updated over 7 years ago,
Repair costs for burn-outs
Let me first say I realize construction costs (really mostly the labor cost) vary with location but there must be some approximate rules.
Rough details 2500 sq ft split level, half basement (daylight), B- neighborhood, ARV $130k. Foundation is fine, between fire, smoke and water damage I would strip down to foundation and reframe. Mid level finishes, nothing crazy. I spoke to a contractor who estimated $100/sq ft which would make repair cost $225,000. This doesn't seem to make sense since we already have the land, foundation and all utilities.
Wholesaler asking $42k, I'm thinking at <$20k it would be profitable but I'm not sure. Anyone have experience with these situations?