[Calc Review] Help me analyze this BRRRR

[Kadeen E Lyons]

View report

*This link comes directly from our calculators, based on information input by the member who posted.

[Bonnie Low]

Hey, Kadeen - First, let me say I'm no expert on the BP calculators by any means - I've used them and also use my own system and they tend to come in pretty close. But I thought I'd mention the one thing that jumped out at me in your analysis is the estimated repair costs. As an experienced flipper, I can tell you the repair costs are always more than you expect they'll be. And as your house is a 1947 built home, you can expect there to possibly be some expensive repairs unless you're buying something in pretty good shape. Do you have experience estimating repair costs? If not, you might want to price some things out. Just as an example, a roof on a 1200 sq ft house here costs about $8-$10k. Windows on the same house are about $6k. Interior & exterior paint about $5k total. LVP flooring runs about $1.99 sq ft so about $2500 just for the flooring, not including labor to install. Tile for two bathroom floors, one tub surround and a kitchen backsplash = $3600. I just thought I'd share some costs from a recent remodel of ours to give you some idea of costs. These are CA costs so I don't know how they compare to where you're at, but we're in a cheap area of CA (near Redding). Also, beware knob and tube wiring in older homes. That can really add to the costs. You might not be required to update it - check with your local building dept to find out what code is - but you might want to anyway just for safety as a landlord. Hope this helps. Don't let it scare you - just do your homework. Good luck!