BiggerPockets


Gut Rehab Costs

59 posts by 22 users

To participate in forum discussions, create a free account or login.

Fake Guy

CA

Aug 27 '08, 02:24 AM
1 vote


I am just curious, what do you guys budget for a gut rehab on like a 1500 SqFt Single Family? I know it ranges, but I am interested in what the different costs are out there. When I mean gut, I mean, putting in new pipes, electric, walls, doors, everything. Even siding outside.


Edited Jun 26 2010, 05:46


Richard Warren

Real Estate Investor from Las Vegas, Nevada

Aug 27 '08, 02:35 AM


It will vary based on costs in your area and how high or low end you are going. You could easily be looking at $25-50 per sq ft.

:cool:


Edited Jun 26 2010, 05:46


Account Closed

Manhattan, New York

Aug 27 '08, 02:41 AM
2 votes


If it is that extensive you should also get estimates based on just pushing it over with a bulldozer and starting from scratch at the foundation.


Edited Jun 26 2010, 05:46


Fake Guy

CA

Aug 27 '08, 03:11 AM


Nah, no need to bulldoze, there is still a lot of things that can be used, the structure, plus the brick. Basically at times I buy 4 walls and the inside has to be completely redone.

So, with that, I am curious as to what everyone on here budgets for that.


Edited Jun 26 2010, 05:46


Bryan B

Real Estate Investor from Monroe, OH

Aug 27 '08, 09:35 AM


I own the construction company that does my rehabs, so my costs are not normal for the average folk. I can gut and rebuild entirely for 18-25K depending on level of finish. Thats of course me saving 50% over what most people do on materials, and paying my guys directly instead of paying full priced contractors. Normally I would budget 40-50K if hiring alot of it out, but then I wouldn't be in business either.


Edited Jun 26 2010, 05:46


Fake Guy

CA

Aug 27 '08, 08:55 PM


I do watch my guys and act as a general contractor, though your numbers are a bit lower than mine. I budget 30-35 per property for rehab. What is a good resource for getting the materials?


Edited Jun 26 2010, 05:47


Tom Tarrant

Real Estate Investor from San Diego, California

Sep 03 '08, 07:33 AM


you are going to spend 35 easy. Could go to 50 depending on exterior plan.


Edited Jun 26 2010, 05:49


Tom Tarrant

Real Estate Investor from San Diego, California

Sep 03 '08, 07:37 AM


PS, my last post was in thousands. If you want to see what you can do for $50/ s.f. check my site and look for "the abandonded house" Complete gut down to the studs with a mid/high end finish out including all new mechanicals, roof, windows, exterior stucco and landscape. Good luck!


Edited Jun 26 2010, 05:49


Fake Guy

CA

Sep 04 '08, 03:08 AM


Just checked out your "abandoned house" project and it was spectacular. I love what you do with the wood floors. That finish is superb.


Edited Jun 26 2010, 05:50


Tom Tarrant

Real Estate Investor from San Diego, California

Sep 04 '08, 05:32 AM


Thanks Fake Guy, those floors are a glue down engineered 5" plank. They are available at Lumber Liquidators for around 3.50/s.f.


Edited Jun 26 2010, 05:50


Fake Guy

CA

Sep 05 '08, 03:43 AM
1 vote


I must say, you did a damn nice job there. I love those floors. What are some other good resources for hardware?


Edited Jun 26 2010, 05:51


Tom Tarrant

Real Estate Investor from San Diego, California

Sep 05 '08, 06:53 AM
1 vote


My trick is to get "the look" without spending "the money" ha ha. All the tile is porc, not real trav. Cabinets are the cheap stain em' yourself models from Lowes. All the hardware is from big box local stores. You can find cheaper online but if you have a problem... the vinyl windows and roman style interior prehung doors are from a builders supply house. Thanks again for the props buddy.


Edited Jun 26 2010, 05:51


Phil *

Real Estate Investor from Connecticut

Dec 30 '08, 04:35 AM


I'de guestimate arund $75-80k. Any special reason your tearing the walls out?


Edited Jun 26 2010, 06:47


Owen D. Donor

Real Estate Investor from Carter Lake, Iowa

Dec 30 '08, 07:29 AM


Can't say I'm really familiar with the labor costs in CA, but I would estimate around $20- $25/sq ft for a complete interior remodel. That is assuming an average to above-average finish level on materials (i.e. no granite, travertine, etc.).

This is based on my experience in my area, so adjustments may be warranted.


Edited Jun 26 2010, 06:47


Phil *

Real Estate Investor from Connecticut

Dec 30 '08, 10:45 PM
1 vote


$25 /sqft is only $37k. I doubt that would cover a gut rehab (incl. roof + siding).


Edited Jun 26 2010, 06:48


Jon Holdman Moderator

SFR Investor from Wheat Ridge, Colorado

Dec 30 '08, 10:59 PM


Owen did say that was for an interior. $25/sq.ft. for a full remodel seems in the right ball park. A full gut to the studs with total wiring, plumbing and sheetrock replacement would be a bit more. Maybe $35/sq.ft.

Easy enough to call a few siding companies and just as a per square foot price. Some with give you a song and dance about needing to actually see it, but with a few calls you should find someone who can give you a ballpark figure.


Edited Jun 26 2010, 06:48


Jon Holdman, Flying Phoenix LLC


Phil *

Real Estate Investor from Connecticut

Dec 31 '08, 04:33 AM


$35 /sqft sounds better for the full job.


Edited Jun 26 2010, 06:48


Derek Walkington Donor

Real Estate Investor from Kern county, Riverside County, California

Dec 31 '08, 09:32 AM


What design level does it need to be so that you are competetive with the surounding homes? Where in California is this house?


Edited Jun 26 2010, 06:48


Sunil Bawa

Real Estate Consultant from Saint Paul, Minnesota

Feb 08 '09, 05:07 AM
1 vote


$35/ft for a 1500 sq ft house entire gut and rebuild would equal $52,500.. Thats probably using basic finishing. Not including exterior.


Edited Jun 26 2010, 07:11


J Scott Moderator Donor

Real Estate Investor from Ellicott City, Maryland

Feb 08 '09, 11:31 PM


Originally posted by Sunil Bawa:
$35/ft for a 1500 sq ft house entire gut and rebuild would equal $52,500.. Thats probably using basic finishing. Not including exterior.

Depends on the area, but where I am (Atlanta metro), $50K would get you a full rehab (interior/exterior) on a typical 1400-1600 sq ft home.

I use $35 sq ft for complete rehab, basic finishings...



Edited Jun 26 2010, 07:12


Medium_lishproplogoJ Scott, Lish Properties, LLC
E-Mail: [email protected]
Website: http://www.123flip.com
CHECK OUT MY BIGGERPOCKETS BOOKS: http://www.biggerpockets.com/flippingbook


(Don't Want to See This? Log in or Create a Free BiggerPockets.com Account!)

Ubg-book

Get the Free eBook from BiggerPockets

Get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks, and techniques delivered straight to your inbox weekly!

  • Actionable Advice for Getting Started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more!

Sign up below to download the eBook for FREE today!

We hate spam just as much as you


To post a reply or start a new discussion, create a free account or login.

Manage Keyword Alerts

View All Forums