Estimating Rehab costs

[Erich Hatch]

Hello, 

For anyone that is not well versed in rehab estimation, how do you go about calculating rehab costs if you are not going through a realtor to find deals? Do you get an inspection and just let the potential seller say they need to wait for that to be done, or do you hire a GC to give you an estimate?

TIA

Erich 

[River Sava]

Hey Erich - 

If you’re not working with a realtor, I’d recommend bringing in a GC to walk the property and give you an estimate, that’s usually the most accurate. You can also learn average costs for common repairs in your market to get a ballpark figure yourself. Inspection reports are another good option if the seller allows it, but they might take more time.