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Updated over 3 years ago,

User Stats

28
Posts
6
Votes
Justin Rockitter
  • New to Real Estate
  • Long Island, NY
6
Votes |
28
Posts

First Rehab: WHERE TO START???

Justin Rockitter
  • New to Real Estate
  • Long Island, NY
Posted

I am in the process of searching for my first brrrr investment. I found a duplex and after analyzing comps and having my realtor estimate rehab costs, it seems to be a good investment. I am using a hard money lender. What are the steps I should take to get a solid estimate for ARV and rehab cost. Do you suggest I bring in a contractor for a bid? Do I even have time to bring in a contractor for a bid? Do I just take my realtors estimate and add 10% for a cushion? I know there is also a time crunch and I am a little overwhelmed with how to analyze this deal and have it approved by my lender in time before someone else snatches it up (if I do end up wanting to buy it of course).

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