Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago on . Most recent reply

User Stats

36
Posts
13
Votes
Claire D.
  • New to Real Estate
  • Saint Petersburg, FL
13
Votes |
36
Posts

Involving GC on Rehab Estimate

Claire D.
  • New to Real Estate
  • Saint Petersburg, FL
Posted

Hey BP,

I am very interested in flipping homes but the daunting task of estimating rehab costs with no experience is the biggest hurdle. I read in The Book on Flipping Houses a recommendation to hire a GC (or perhaps experienced rehabber) to walk potential properties to give you insight on the things they look for and help assign a ballpark rehab estimate. If the rehab estimate numbers work, proceed with getting the house under contract. Once under contract, use the inspection and formal contractor/sub bids to create a more accurate rehab cost. Here is my question...

Does anyone have experience with hiring a contractor with rehab estimates prior to getting the contract? What was your experience and how accurate was the initial estimate, if you followed through with the flip? 

Thanks in advance!

Most Popular Reply

User Stats

2,131
Posts
692
Votes
Kuba F.
  • Real Estate Investor
  • Los Angeles, CA
692
Votes |
2,131
Posts
Kuba F.
  • Real Estate Investor
  • Los Angeles, CA
Replied

@Claire D. 

I hope the site has been useful to you.

Speaking as a Realtor, I wouldn't worry too much about your reputation with agents, especially if you intend on purchasing something. With the crazy competition right now agents have to work much harder and there's a certain expectation that more offers will fall through anyway. 

Although most agents don't invest, there are some out there like myself  that also flip and should be able to guide you with your estimates.  Find one of those, likely at your local investment meetup.

  • Kuba F.
  • Loading replies...