Estimating rehab costs

[Joe Lijoi]

Hello all!

What is everyone using in terms of cost/sq ft. in determining their rehab costs when putting together their numbers on a deal for light, medium and heavy rehabs on houses in the 1000 sq ft range? 

[Cody Neumann]

@Joe Lijoi

It is very risky to go about it by cost per square foot especially being newer. Estimating rehab costs is a learned skill that will come with practice. You are better off getting in touch with either a contractor or someone that is knowledgeable on rehabs to get an idea of costs or read the book on estimating rehab costs by J Scott.

I have heard of too many rookies get screwed over by that form of estimating.