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Updated over 2 years ago on . Most recent reply
Estimating Rehab Cost
I'm a new investor any I'm looking into learning how to estimate rehab cost. Is there rule of thumb in Philly for rehab cost? $30 per square foot for normal rehab? $50 per square foot for complete rehab? I plan on networking with some investors and asking them how much where their rehab cost and compare but for my first deal, i'm having trouble getting a estimate cost? Here is a link of the property I was trying to practice with. I came up with $150K rehab but I feel like thats to high for a complete rehab https://www.zillow.com/homedet...
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#1 Contractors Contributor
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What @Scott E. and @Chris Seveney said^^^. For a rough drive-by look, you can use a SF number (and it's more like $150-$250 SF based on area), but you can use a room by room number as well. As you get more experienced, this will get easier. You can find some online calculators to help you, but they are not exact.