List of average rehab costs?

[Jennifer Edwards]

Does anyone already have a list of average prices for common rehab materials?

I was going to make one from scratch so I could refer to it for first round quick and dirty deal analysis. I was thinking what a huge, time consuming project it would be. Then I thought, maybe someone on BP already has and wouldn’t mind sharing!

[Jennifer Edwards]

@Greg Dickerson and @Jon Reed Thank you! Very helpful feedback.

I am brand new and I’m trying to learn how to analyze deals for a flip. I’m using the BP calculator and there are so many numbers to plug in that I don’t know. Here is what my plan was before posting this.

1. Use the BP rehab calculator to make a list of common materials needed for rehabs.

2. Walk up and down the isles of Lows and Home Depot and price each item. A decent toilet costs X a good fan costs Y.....

3. Google “average per hour rate for” plumber, electrician, AC guy etc. in the Houston area.

4. Take one of the houses my realtor sent and plug in the numbers on the calculator. It’s a 2.5 bath so that’s 3 toilets. It needs 4 total fans....

5. IF it looks like it might work, THEN get a contractor to walk it with me and give a quote.

6. Run the numbers again and use that to put in an offer.

I’m sure this plan is flawed because I have done 0 rehabs. Please help me understand how it is flawed and how I should go about it instead. My concern is wasting a contractors time because I did not run preliminary numbers.

Speaking of wasting peoples time, THANK YOU in advance to anyone willing to take to time to respond and set me straight!