Updated over 4 years ago on . Most recent reply
Determining rehab cost
I’m in sights on my first flip I have viewed the home with a realtor I have a plan on what I want to do rehab wise but I don’t know how to determine the cost on my own I am l located in East Tennessee
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Never should a newbie rehabber use a price per SF to estimate rehab costs! Only in certain circumstances with an experienced flipper would that work and then only when it is a full gut with a scope of work determined for finishes. As Evan accurately pointed out, using a price per SF does not ever take into consideration the difference in costs between a $100 light fixture and a $1,000 fixture. Times that by 100 different items and your price can get way off!
There are a ton of threads on BP that go into full detail on how to perform this task, I have personally contributed to many of them. I suggest you do some searching on BP here to find some insight into this.