Being more accurate in my Property Analysis

[Cordelius Walker]

When practicing doing a Property Analysis, I continue to get jammed up on estimating the rehab budget. These are properties that I obviously haven't been inside, and I have a very limited understanding of the costs of the repairs & supplies. Should I not get so caught up in trying to be so accurate? Any feedback will be much appreciated..

[Zachary H.]

Right, if you are just practicing for future use and not actually planning to buy the houses, then yes, do not get caught up in the details. 

However, if you plan to buy the house, and you know it needs work, you need a contractor or someone with experience in rehabs to tell you how much it will likely cost. No estimate will be spot on, but they can get you closer and will help explain the process of estimating these costs which can help you down the road. 

I would recommend reading J Scott's two books: Book on Flipping Houses and Book on Estimating Rehab Costs. 

These will both help you when you start investing. 

Good luck!

-Zac