All Forum Posts by: Lee Yang

@Lee Yang. We do remodels for our clients every month, it really depends on the level of rehab. In general you are looking at 15k-25k for 2-3 br. for paint, ceilings, carpet, appliances, granite counters, outlets, plumbing, repairs, light fixtures, bath vanity, toilet.

The age of the property, and general repair are big factors, no two are the same, and two contractors could come up with a different scope of work. Be sure to budget 20% for things you don’t know about yet.

@Lee Yang everyones pricing is going to be different and the scope of work is going to be different. Rather than trying to formulate a price PSF you should learn the approximate costs of as much as you can. You can learn this by working with people who are doing it, speaking with investors/ contractors. If you are looking for a GC there are a lot that someone can recommend but know that a GC will more than likely make any investment property to expensive to rehab

@Lee Yang

The standard formula works around here. (ARV * 70%) - Repairs - Wholesale Fee.

Some people I know vary on the 70%.  Some higher and some lower.  Lately it's been a little lower for some, but not as a rule.  It all depends on the buyer and what they're looking for.

As much as you can get away and still snag a buyer with basically.

Depends on price point. For properties under 100K I see them make 2K-15K. Just depends what you can put it under contract for, and what an investor will pay.