All Forum Posts by: Yixuan Du

Hey guys! I think we are going to shoot for:

September 8th 5:30-8:00 at Sidecar Social in Addison. Please let us know if you can make it so that I can give the space a call ahead. 

There isn't a separate room, but the space is huge. I was interested in something pretty informal... but if any additional meetups happen from this thread/group I would be open to trying to make those too! Look forward to meeting you.

Hi @Yixuan Du welcome to the forums, have you seen this thread?

Using a price per SF for estimating rehab costs is one of the worst ways to do it as it is the most inaccurate! I have posted many times in many threads on how to perform this task in great detail. Do a search or look through any of my many posts in the past on this topic.

Essentially, you need to NOT rely on others (like contractors or inspectors) to perform this task, you need to know how to do it and after practicing many many times and using the right tools, you can eventually do it in your head in 15-30 minutes while walking through the property.

You need a spreadsheet (several free downloadable ones on the BP file place at the bottom of any thread page), fill in your local numbers for material and labor costs for each line item and then break up the home into sections. Kitchen, bath, flooring, paint, landscape, HVAC, electrical, plumbing, roof, stucco/siding, etc. Once you know the average general price for each area, you simply walk through, label your scope of work and add up the numbers. It is not rocket science but it does take lots of practice so get out there to open houses for fixers and start practicing once you have your spreadsheet filled in.