Analyzing Repairs and

[Alex Harris]

Hi BP, I am getting a property under contract and I am trying to figure out a repair/rehab estimate. The property is more or less a shell. It has the brick but no walls on the inside and basically no interior except flooring and space. It this situation, how does one go about estimating what needs to be done? I am asking because it seems like the end buyer would just be more or less building another house completely (atleast on the inside). I normally would just do a general estimate based on sq footage, work needed to be done (ex. kitchen needs tiling), and basic knowledge but this is different. This is more common than I think I'm sure but I am new to wholesaling and def. know even less about rehabbing. Property is about 900 sq ft. and comps suggest ARV around $85k and I have already gotten the sellers down to $15k before inspecting it closer. I know this is a possible error but I haven't made an official offer or anything like that. Property is in Newport News, VA and tomorrow I will check it out and will have more information. Thanks all and appreciate your input.