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Updated almost 9 years ago,
When you're Analyzing the Property for Repairs
I've been through quite a few properties thus far and have gotten pretty good on my estimates but there's still this gray area that continues to make me ever so slightly doubtful.
What do you consider something that may need attention?
For instance, some properties may have walls with decent paint still (albeit uniquely chosing colors and not your simple whites) that may need a cleaning but could arguably need an entire top to bottom job. Do I estimate paint in the repair costs or keep it as a small cosmetic fix/cleaning and the current paint/color remains? Or maybe the property has a good kitchen that is completely functional and liveable, but a little out of date? Do you consider this a remodel, or still ok- use it?
I suppose it's like the saying, if it's not broke, don't fix it. I feel like some aspects of a property I may or may not add into repair estimates, may or may not need included and I could have much more solid prices/offers. X could say it needs a kitchen remodel, W could say nah, doesn't need it (but it's apparent it's out-dated by the naked eye). Maybe W says it doesn't, so that remodel estimate isn't included in their repair list. Now they have a buyer but they're on the contrary about the kitchen remodel and insists the price may be skewed.
Did I lose you yet or you still with me? Haha. I hope I explained it for you guys to understand my current conundrum. Thanks ahead of time for any and all of your input! Much appreciated.
Regards,
Ryan Andexler