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Updated almost 7 years ago,

User Stats

12
Posts
7
Votes
Patrick Keene
  • Morehead, KY
7
Votes |
12
Posts

Intro to BRRRR-- How do I determine my rehab cost?

Patrick Keene
  • Morehead, KY
Posted

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.

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