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Updated over 11 years ago on . Most recent reply

Javon Dixon's profile image
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Javon Dixon
  • Wholesaler
  • from Perry Hall, Maryland
  • Member since Aug 13, 2013
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Javon Dixon's profile image
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Javon Dixon
  • Wholesaler
  • from Perry Hall, Maryland
  • Member since Aug 13, 2013
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Javon Dixon
  • Wholesaler
  • Perry Hall, MD
10
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85
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Wholesaling

Estimating cost of repairs

Javon Dixon
  • Wholesaler
  • Perry Hall, MD
Posted

I took a note from Sean Terry's ebook that a rule of thumb for estimating repairs is the equation: sq.ft of home x $10 = general rehab cost

Has anyone ever made an offer to buy using this formula? and then maybe got a more detailed estimate afterward?

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Tim G.'s profile image
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Tim G.
  • Rental Property Investor
  • from San Diego, CA
  • Member since Jan 12, 2011
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Tim G.
  • Rental Property Investor
  • from San Diego, CA
  • Member since Jan 12, 2011
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Tim G.
  • Rental Property Investor
  • San Diego, CA
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Tim G.
  • Rental Property Investor
  • San Diego, CA
Replied

Ask rehabbers what they usually spend on a rehab in your area. You'll get a feel for it.

Lets put it this way, if you have the choice of doing nothing or winging it on the first few I say wing it. Once you get a deal locked up and have a few buyers shop it they will let you know quickly if you have the right numbers.

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