All Forum Posts by: Rodney Marcantel

Floor Plans Ap for iPAD Air is what I use and is what the "Love it or List it" people use. Great when you're at a property getting measurements and brainstorming what changes you can do.

@Rhoda Norman, it all depends on what you're willing to get into. For me, I'd take the deal as demo is already done and you move some walls and open it up making it real buyer friendly. Not knowing details and size, ARV's, etc. I can't effectively provide much more info but it looks like a great property to work with if you have enough cash to cover the rehab.

$839 for material and $2,000 for labor. 

$2,839 total cost to remodel bathroom.

Very nice. most bathrooms that size run at least $3,000 and up to $6,000 to remodel. So very nice job. Still would have put tile floor and not vinyl for sales appeal and it wouldn't have cost much more. Probable push total cost to $3,000.

Depends on updates to each home and other factors, like age of roof, with/without pool or covered patio, year built, location (close to airport or high traffic), etc.

Sub-flooring adds to the cost. Vanities run $1,200 and up mostly with natural stone top/sink. Depends on the quality/type of materials used in your washroom as to the overall price you'd expect. Is this a 2 or 3 piece washroom?

Ripping out as you said (demo) would save you probably $300 - $500 in labor plus the cost of dumpster if you need one. Painting is usually $1.25 per sq.ft. so depending on your washroom size, this could be some good savings too if you do the work.

I assume all materials including paint are included in the quote. So if you're doing the painting and get the paint, that's $50 - $100 savings also.

Listed in order of cost (lowest to highest)

• Cash from Savings or 401K
• HELOC on your home (up to 50% LTV in most cases)
• Cash out Refi on your home (up to 80% LTV)
• Private Money Lenders (75 - 80% LTV and 8 - 12% interest in most cases)
• Hard Money Lenders (75% LTV max, 1 - 3 points, and 8 - 15% interest in most cases)

I can get a regular alarm system installed for only $75 for wireless connection and then $19.95 monthly. No cost for equipment and it comes with a smoke detector. All the connections and keypads are wireless also so no wires to install.

Funny how Scott Yancy from Flipping Vegas always has break-ins and Amy, his wife, usually has to get a system installed because Scott is so cheap (according to her). Only costs about $300 to install so it should be what goes in before appliances get installed and immediately after interior painting.

Get J Scott's book "The Book on Estimating Rehabs" here on Bigger Pockets. Learning how to estimate repairs during a walk through will help you obtain better and more realistic rehab numbers. I'm reading his book and love it. It is a lot of what I already know, but he puts it in a perspective that helps me see better and calculate better the actual rehab costs.

Check out my power team. They are awesome and in Coppell.

www.BuyDallasNow.com under the "who we are" page.

Maybe they can help.

Tough question. Depends on house size, location, 2 versus 1 story, etc.

The only fixed I could offer is closing costs (real estate agent fees) which is usually 6% of the ARV or sale price.

Anything else would be ballpark numbers like roof, foundation, kitchen/bath gut/remodel, paint interior/exterior, etc.

Roof: $7K - $12K (But depends on the type of roof and if plywood needs replacing or if there are more than 1 layers of roofing that have to be removed.
Foundation: $1K - $8K
Kitchen (total gut): $8K - $15K for average 10x10
Bath (total gut): $3K - $15K depending on whether 3 piece, 4 piece or master bath
Interior Paint (whole house including baseboards/trim): $1.25 - $1.75 per sq.ft.
Exterior Paint (whole house): $2.00 - $2.50 per sq.ft.
Note on painting: It's based on sq.ft. of house and 8 foot walls. More if walls are 10 - 12 feet tall.

Plumbing/Electrical I've seen all over the place with numbers for the same job so can't quantify that at all. We did a new bathroom which required concrete work to get to drain and build the bathroom. Cost estimates on plumbing alone were $7500, $6800, $5000.