Updated over 6 years ago on . Most recent reply
Budget example ( line items please)
What would a budget look like if I were looking to rehab?
Most Popular Reply
In order to budget for a rehab you first need to put together a scope of work. You then use that scope of work to create the budget and schedule. If you plan to hire a GC, then have 3 or 4 of them all bid on that scope of work. This way you are comparing apples to apples. If you don't know how to put a scope of work together, then you need to learn that first and foremost.
See here: Your Real Estate Scope of Work: The Drama Eliminator
And here: Our Flipping Journey: The Scope of Work
I also recommend reading these two books:
The Book on Estimating Rehab Costs
You can get them both here: Flipping and Estimating Bundle
Check out the file section on BP also: https://www.biggerpockets.com/files
There are many files there that may help you, such as this one: https://www.biggerpockets.com/files/user/drobertson/file/sample-contractors-scope-of-work-documents
And this one: https://www.biggerpockets.com/files/user/JasonScott/file/13-rehab-analysis-spreadsheet---basic
And see these: https://www.biggerpockets.com/files/search?utf8=%E2%9C%93&term=scope+of+work
Hope that helps! Best of luck to you and happy investing!!



