$10, $20, or $30 per sq/ft tool

[Nathan P.]

A contractor in my market told me the other day that he uses the following tool to roughly estimate rehab costs before he actually goes and itemizes everything needed on a rehab.

$10 sq/ft-carpet, paint, blinds, cosmetics, etc.

$20 sq/ft-carpet, paint, blinds, cosmetics, bathrooms, kitchen, etc.

$30 sq/ft-carpet, paint, blinds, cosmetics, bathrooms, kitchen, roof, cement work, etc.

So basically he grades the property 123 (abc) and the applies the cost per sq/ft to the total square footage of the property.

Does anyone else use a similar method to help them save time analyzing deals and focus on deals that look more appealing? I am interested to hear other variants and methods you are using as well.