Estimating Repair Costs for Fix and Flips

[Riley Hoffman]

When going to Home Depot, Lowe’s, etc. to find out the repair estimate for a fix and flip. What are some good questions to ask? Who do you talk to at the store to get the answers? This is for all types of properties. Just trying to learn the how to get accurate repair estimates. Any other information on this topic would be great as well. Thanks in advance.

[Bryan Blankenship]

Find a contractor that has time for you, and pay him for his time on site to show you the issues.  Get his pricing and be sure to compare to a few others.

Use a few resources online like Rehab Valuator or similar to see what it should cost as a ballpark for the work being done.  

Once you have your best bid from someone reputable, find someone to review the first few you do and ensure they are in line. As a 15yr REI guy and licensed GC I can look at a bid and know if it's inline or not within 1 minute of seeing a few key line items.