Demo Estimating

[Ben Smith]

Hey BP,

I just got done looking at a house...TOTAL sh!@ storm. Not literally but darn close. I've been using $0.50/sq ft for basic room demo estimating (not kitchen or bath). I'm wondering if this would be an accurate number if I'm going to need to demo ceilings and floors. There is so much mold in the ceilings, and the floors all have to be replaced too (age). I got a number from a mold guy that I met at a REIA meeting and he said that I should be safe with using $10k-$12k for mold remediation. I'm wondering if I should use a higher per sq/ft number for my estimating on all the demo because it is more than just bad drywall and old floor coverings.

Thank you much,

Ben

[Kate Bell]

Hi Ben, my experience has been that when it comes to mold,  you most definitely need to get a mold abatement test done.  Also to calculate here is a rule of thumb that I like to use.   Let me know if there is anything I can do to help.  Ave. Cost for Rehab

Light Rehab: $10-12/sq. ft. (95% of properties need this)

Paint

Floor

1.Carpet

2.Tile

3.Peel & Stick

4.Refinish Hardwood

Doors

Lights

Plugs & Switches

Medium Rehab: $20-24/sq. ft. (70% of properties need this)

Everything in the light category

Kitchen

Bath

Windows

Heavy Rehab: $30-35/sq. ft.

Everything in the low and medium category

HVAC

Plumbing

Electrical

Roof

Foundation

Mold

• Average for landlord buyers to get the property in rent ready condition is $8-$12 per sq ft.
• Average for rehab buyers is $20-$30 per sq ft.
• If you’re doing an offer sight-unseen, figure Medium rehab costs for your offer.

Individual Costs

• Flooring:
• -Carpet: $2 sq. ft. carpet/6pound padding installed.
• -Tile: $7 sq. ft. installed “Terracotta Clay” or “Patina Shale”
• -Laminate Tile: $2 sq. ft. installed.
• Paint: $2 sq. ft.
• Lighting:
• -Ceiling Fans: Contractors special w/lights $52. Choice of 36”, 42”, 52” White. Otherwise $200 installed
• -Flush mount lights: 6-pack contractor special $50
• Doors:
• - Interior Doors: 6-panel $215 installed
• - Exterior Front: $700 installed
• - Storm Doors: $350 installed.
• Bathroom:
• -Vanity: $650 installed
• -Surround tub/shower: $600 tiled
• -Tub: $350 reglazed
• -Toilet: $350 installed “American Standard Cadet”
• Kitchen:
• -Cabinets: $300 liner ft installed. Colors: White, Cheyenne, Denver
• -Counter Tops: installed with cabinets.
• -Sink with gooseneck faucet: $500 installed
• -Appliances: (fridge/microwave/oven/dishwasher) white/black $2,100 installed. $2,500 for stainless steel.
• Water heater: 50 gallon $1000 installed.
• Windows: $250 per vinyl window.
• Landscape: $500 basic