Estimating your rehab costs???
If you get a good lead, but you aren't good on estimating the cost to rehab the property, what is your procedure for figuring out the figure? Right now I've had my contractor quote work out. A few problems, first is that it takes awhile to give me a full detailed quote. I can't make an offer until I know this figure. I can tell that a lot of work goes into these quotes... Second, a lot of these deals that are at first promising end up falling through... I'm afraid that my contractor may think I'm starting to waste his time. Of course I hope that one day I can walk into a home and be able to estimate my own rehab cost, but I'm not there yet.
Talking to the seasoned house flippers out there, what do you all recommend? Many thanks! :)
-Zac