Forums » Real Estate Deal Analysis and Advice » what is the best ways to estimate repairs

what is the best ways to estimate repairs 9 posts by 6 users

Rod C.

Real Estate Investor
Chester, VA

Posted: 09/27/2007 at 08:19PM

hello all its a short question but i know u guys have pleanty answer so please feel free to drop your post i would love to hear your thoughts?

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flipper101

Real Estate Investor
San Ramon, California

2810 posts

Posted: 09/27/2007 at 09:17PM

Two options if green:

1. Get to know a reliable contractor fast.

2. Google: constuction blue book. You can get software that adjusts for demographic, remodel, new costruction, low end, high end or whatever...
Great reliable data - base, and very helpful for those new to estimating.

Tom C.

Real Estate Investor
OH

812 posts

Posted: 09/28/2007 at 09:41AM

If you are doing the work yourself, go spend a day at Home Depot or Lowes looking over the material price. Take each dept and add write down the cost of things that you would replace during a typical rehab.

Adam A.

48 posts

Posted: 09/28/2007 at 10:05AM

If you are doing the work yourself and you have never done it before take what you think it will cost and triple it.

Bryan ..

85 posts

Posted: 09/29/2007 at 08:53PM

I have a good contrator who was willing to go through a house with me that I was bidding on. It needed a ton of work and he priced out everything for me (I owe him dinner since my bid was not accepted). It gave me a good feel for the typical stuff and many of the unusualy items as well. Price will vary based on quality of materials such as different grades of windows, etc.

Rod C.

Real Estate Investor
Chester, VA

48 posts

Posted: 07/26/2008 at 09:38PM

the latest info i was told was that if its a good house multiply the square footage by 10 dollars
if its bad multiply by 20 dollars per square foot
and 25 if its ugly
to get the reproduction cost. i personally think the guy was trying to screw my math up to keep me under him, he is supposed to be my mentor but when i ask him things like this he acts a Lil funny that's why I'm fishing and looking to learn enough to break away.
what do u guys think

Northshore B.

Property Manager
Honolulu, HI

473 posts

Posted: 07/27/2008 at 01:26AM

Well, if you know what you are looking at, it's hard to beat
http://www.contractor-books.com/CR/CD_Estimator_Intro.htm
for the price...

Rod C.

Real Estate Investor
Chester, VA

48 posts

Posted: 07/27/2008 at 01:08PM

thanks ill check it out, any other ideas

Rod C.

Real Estate Investor
Chester, VA

48 posts

Posted: 09/04/2008 at 05:11PM

any other ideas, one of the gurus says pick an number 10k 15k 20k for single family home with an square footage of 1000 to 2000 depending out how ugly the property is