Wholesalers: Estimating Repairs.

[Jake Gaines]

I'm new to investing and I've been a member of BP for a little under 24hrs and I am already thoroughly enjoying all that this site and you guys have to offer. However, I have a question: What is your best formula for estimating repairs for your wholesale deals? How do you present that estimate to potential buyer? 

[Josh Williams]

Best thing to do in my experience is, on one of your deals get a contractor to come out for a free estimate and walk with him/her and ask a ton of questions about what needs to be done and how much each thing cost. You will get to know the big ticket items and the price it runs every time. For instance, roof cost around 5k in my area and HVAC costs around 5-6k. After that you can kind of estimate on all of your deals and present it just as that, ballpark estimates. The investor will understand and when they go look they will be able to make their own guesses. Just my advice. Hope this helps!