ARV

[Doug R.]

How to determine repair costs and ARV if I have no experience with contracting?

[Chad Shultz]

Doug R. - Similar to James Heller, I have a "rough estimate" formula I use.  For me, I try to figure out if a home is light, medium or heavy on a rehab.  I then use a cost per square foot and multiply by the square footage.  Up until recently, the numbers were light - $15/sqft, medium $25/sqft, heavy $35/sqft.  And like James, add in large ticket items like a roof.  Now, however, since prices have gone up so much on materials, I have adjusted to $20, $30 & $40 respectively.  It should get you close.  For example, a 1500 sqft home on a light rehab, should fall around $30k to rehab.  There is no 100% solid formula, because there are always variables.