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Updated almost 7 years ago,
Intro to BRRRR-- How do I determine my rehab cost?
I recently watched a video on how to make an offer on a house. It was a simple formula. I think it was:
ARV x 70% - rehab costs - profit
My question is how do I quickly and efficiently determine rehab costs to make an offer?
Obviously, a scope of work from a couple contractors would be the most accurate but it seems a little overkill just to analyze a deal. I could take my property manager or realtor's word for it but that may not be their area of expertise.
Also, I am using David Greene's Long Distance Investing book as a guide so I may never actually see the house.
Thanks in advance.