BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated about 2 years ago,
Estimating Rehab Cost on Full Gut Duplex
I have a duplex I'm looking to purchase as a BRRRR, it's fully gutted inside but has a new Roof, Siding, Windows, Electrical Service.
My question is how do I accurately estimate rehab costs for the :
- Electrical
- Plumbing
- Hvac
- Drywall
- Flooring
When I go check out the property should I bring a General Contractor with me? Should I bring a Plumber, Electrician, Hvac, Drywall contractor with me? I don't want to waste anyone's time if I didn't purchase.
Purchase price is 10k which seems like a slam dunk with the siding, roof, windows, panels and already gutted, but the ARV is only 100k-120k so have to be careful with the rehab as the margins are thin. I don't mind leaving some money in the deal if need be but wanted to know what I'm getting into before I pull the trigger.
Right now I have a really rough ball park of 90k rehab with inflated price/sqft values i've found online for my area.
Thanks for any insight!