Wholesalers/Rehabbers, Can You Estimate Rehab Costs (see photos)?
So I've been responding to many wholesale threads regarding underestimating rehab costs. I have also read many threads regarding most who can assess what a property may cost to rehab within minutes of viewing it. I thought it would be interesting to see what wholesalers/rehabbers (new & experienced) would estimate this cost to rehab if you only had these photos to assess.
Whether you are from Texas or out of state, it would be nice to get an idea of what anyone believes it could cost just by reviewing these photos. It would be a good exercise and possibly helpful to those who are new.
This house is located in Texas and is a 3/2 @ approximately 1,100 sqft. It was built in the early 1960's with an ARV of roughly $130K. We could get into what the maximum offer would be but I am more interested in what the cost of rehab could range for this home.
Let's keep this professional and hopefully you could point out what you notice in the pics or what you definitely feel you should replace or renew.
Let's have fun with this. And yes maybe this has been done before but again, this is an example we could use to tackle the issues with under estimating repairs. The rehab costs should reflect a typical cost. Not a DYI or your crew that has done over 100 rehabs for you. This is meant as an exercise to see what it may cost in your opinion if you were new to the area or business.
This will hopefully come from two view points, a wholesaler's and a investor/rehabber view point.
Thanks in advance for your participation.
Your BP Family Member,
Big Henry
SEE PHOTOS BELOW (ZOOM IN):