Itemized repair price list

[Carl Schmitt]

It sounds like a lot of people end up having a deal go bad or not being able to make a deal at all because there rehab estimates were off. Does anyone have, or could we put together, an itemized price list per unit? Personally, I think to look at a house and say, it's going to need 25k is difficult. But if you have a break down saying Siding will cost 300 a square, you can look at a typical 1000 square foot ranch and say, $300 times 12 squares is $3600.
I understand that prices vary depending on location, but I think most people are smart enough to know that if they live in California, it's going to cost more than someone in Tennessee. It would simply be a starting point for estimating costs.
So, does anyone have a list like this?

[Steve Wilcox]

I believe you have to have some decent knowledge of construction, what the processes are, and how much time things take to get done.

The materials as Jason mentioned are the easy part, if you know what materials are need just go to hd or lowes website and look (not that they are always cheapest or the best). Things like windows, cabinets, and counter tops you will get a sense of after doing a few, but you can always take the measurements and take them to actual fabricators or suppliers to get quotes for your first few until you have a good idea in your mind how much a space will cost.

The hard part is estimating the labor. If you know what actually needs to be done (and have a good idea of how it should be done) then you can estimate how many days each task should take, as well as how many workers to complete it. Also you will need a concept of how much skilled labor costs near you. This can vary widely by region, time of year, quality of work expected, and thousands of other reasons. Once you start to work with the same guys for a bit you will get an idea of what they expect to make

Then you can use formulas as follows

rehab cost= materials+ Labor (total days of work * number of workers* cost per day of workers)

To be more accurate you must break down the labor by trade, as each trade will expect to earn a different amount per day based on skill and standard wages. Your electrician will need to get paid more than your landscaper.

Alternatively you could work with a real general contractor who has good experience, and let them tell you how much it will cost. This can be risky if you don't know what you are talking about as they can typically smell blood in the water.