How do you analyze repair costs when there are few photos?

Question

If you're out of town and looking to analyze a deal, how do you estimate the repair costs if you only have a few photos on the listing to look at?

Brian Pulaski · Answer

Not accurately. I guarantee there will be much more wrong that you don’t see.

I personally wouldn’t offer on a house I couldn’t walk and feel comfortable if it’s condition.

Chandler Miguelgorry · Answer

@Michael Noto that's a good tip. I'll have to try that. Thanks!

Michael Noto · Answer

@Chandler Miguelgorry Throw a contractor or agent a couple bucks to do a video walkthrough and then once they know you are legit and you use them for the projects they will probably do the walkthrough for free.

Chandler Miguelgorry · Answer

@Kalin Johnson thanks, that's good advice!

Kalin Johnson · Answer

@Chandler Miguelgorry if there has been an appraisal a lot of times they will post a lot of pictures.

You could hire an inspector and ask them to FaceTime you. David Greene really hit on the “core four” and if it’s in an area you’d like to invest in more in the future I’d make several calls and find a contractor to do the walk through for you.

Chandler Miguelgorry · Answer

Thanks everyone! Great information. Appreciate the insights.

Mark Gallagher · Answer

@Chandler Miguelgorry a lot depends on the year build. If older, you're definitely going to need some additional photos/inspections. If newer 2005+, you could ballpark it. Would also depend on your exit strategy. If you're looking to hold it as a rental, a marginal roof could stay for a bit; a fix and flip - you're probably going to need to replace it. If you're renting, you could be a little more tight on rehab estimate, a fix and flip you'll need to overestimate.

Jaron Walling · Answer

Get more photos. It's pretty simple. An agent or contractor should be able to help or maybe they don't want your business.

Greg Dickerson · Answer

You can get a couple of contractors to go through the property and provide estimates, send an inspector, agent or PM to get pictures for you.

How do you analyze repair costs when there are few photos?

How do you analyze repair costs when there are few photos?

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