My 2 cents (actually more like 15 grand-25 grand)

[Bill Vaughan]

Well Well Well, my property manager just called and he guesstimated rehab #3 at 30-40 grand when I was expecting 15.

Lesson, an inspection is really nice and I strongly suggest one for people starting out. BUT you also have to consider aesthetics. Sounds like we might have to gut 2 bathrooms and a kitchen.

I strongly suggest for all newbies getting alot of experience estimating costs not only considering what is needed structurally but also aesthetically.

Thats just my 2 cents( or 15-25 grand) depending on how you look at it

[Scott Hubbard]

A couple of questions here:

1) why is your property manager giving you an estimate? Is he/she a licensed contractor?

2) When you say asthetically, are you talking about quality of finishes?

I recently gutted an entire house which included new drywall, texture, paint, doors, windows, cabinets, granite counter tops, vanities, flooring, fixtures, and appliances as well as restructuring an exterior wall with two sliding glass doors which was all done for $34K.

If this is a high-end property, then I believe your estimate may be correct. However, if your talking about a median-priced home, then I would recheck your numbers becuase I can do two baths and a kitchen, paint and flooring on an average size meidan priced home for $20 to 25K easy.