Estimating Repair Costs

[E. Jacobs]

Hi everyone- I'm trying to start my wholesaling business this summer but I must say I have absolutely no experience or knowledge about rehabbing or its associated costs. I want to be able to walk through a house and know what to offer based on accurate repair estimates and market value using comps. But if I don't know how to estimate the repair costs, what should I do? I know I will eventually learn from experience but I don't want to let this slow me down. Should I try to add a contractor to my team at the beginning to do walkthroughs with me and estimate the repairs? I could refer business to him from my investor network and also give him a cut if I close on the deal. Or should I ask the seller to estimate the repairs and pass that number along to potential buyers and tell them that's what the seller estimated? Does anyone have any advice here?