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Updated over 1 year ago on . Most recent reply

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92
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51
Votes
Mel Park
51
Votes |
92
Posts

Can you eyeball a listing and estimate costs?

Mel Park
Posted

I've never done a rehab before - just own vanilla townhomes, collect decent yet problem free rent but I've continuously tried and failed at obtaining a flip home.  Anyway....I'm asking what might be a dumb question but then again maybe not.  For those of you who are experienced - are you able to look at a listing, and come to a rough rehab budget? Again- ROUGH.  Here's a listing as an example: (Disclosure: I have ZERO interest or ownership or anything with this listing. It happens to be 40 mins from my house is all. )

https://www.realtor.com/realestateandhomes-detail/4308-Conco...

Just based on what you see in the pictures - are you able to have a mental idea how much it will cost to rehab and if so how do you come to that? Thanks

Most Popular Reply

User Stats

235
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255
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John Chong
  • Lender
  • Houston, TX
255
Votes |
235
Posts
John Chong
  • Lender
  • Houston, TX
Replied

I would eyeball around 50-60K too without knowing about the condition of the major items like HVAC, roof, foundation, plumbing, and etc. I'm seeing a full trash out, new floors throughout, new paint, full bathroom and kitchen updates, appliances, roof looks like it needs to be changed soon, landscaping, and etc. 

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