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Updated over 7 years ago on . Most recent reply

User Stats

276
Posts
181
Votes
William Brown
  • Wholesaler
  • Los Angeles, CA
181
Votes |
276
Posts

2 bed 1 bath estimating rehab costs

William Brown
  • Wholesaler
  • Los Angeles, CA
Posted

Came across an absentee owner/abandoned 2 bed 1 bath a couple weeks ago. Did our research, then had a showing today.

I am not exaggerating when I say this property is a sh*t box. .25 acre corner lot....thats about all it has going for it. The property needs a full kitchen, full bath, and cosmetic work wherever you look. The owner asked the agent to list it near market price. I'm estimating $100k+ in repairs. the ARV is ~$300k and they are asking 250. They will definitely need to come down but I need to find out how much. What are some accurate methods to determine the repair costs? Right now we are doing basic research on the internet for ballpark numbers for the kitchen and bath, but I think the next step would be to get a contractor to walk the property with us.

  • William Brown
  • [email protected]
  • 310-919-0587
  • Podcast Guest on Show #371
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