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Updated almost 9 years ago on . Most recent reply

User Stats

35
Posts
10
Votes
Trey Foradory
  • Real Estate Investor
  • Grand Forks, ND
10
Votes |
35
Posts

Repair estimates through Contractor

Trey Foradory
  • Real Estate Investor
  • Grand Forks, ND
Posted

I've been working on wholesaling for the past couple of months and have closed 2 deals so far.  My 3rd will be closing next week and I contracted another deal yesterday.  Up to this point, I have been doing my own repair estimates based off what I have learned through reading and videos explaining how to get a quick idea of the costs.  However, I am wanting to be more precise with rehab costs when bringing deals to buyers by bringing a contractor in to check out the property and give me their estimates for the repair/rehab costs.  My goal is to make the decision as easy as possible for a buyer, so they can just look at the contractors estimates and all the numbers to decide if it's for them or not.  

When I have a contractor walk through the property to give me an estimate, will I essentially have them tell me the mandatory repairs and cost (i.e. roof, foundation, etc.)?  Would it also be good to have minor cosmetic repairs priced (paint, bed/bath/kitchen update, etc.)?  

Any advice would be greatly appreciated.  Thank you!

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