Estimated repair costs

[Michael Winders]

I’m going to admit my fear to hopefully find wisdom and maybe help others who feel the same!  

I have read/studied more on this website and books than I can actually remember.  I found a house that was very run down (needed roof, some slab work, dry wall and paint) but, have no clue how to estimate costs.

I listen to Brandon on how he walks through the house and records notes per room.  I love that but, I have no clue what value to estimate on fixes.  I get scared thinking I will way under value fixes and get totally hosed on a deal.

I’m studying, putting in effort, have a real estate guy.  But this hurdle is killing me!!!  

What do I do?  I’m just trying to start so the 2 good contractors I know are kinda wait and see if I’m worth their effort and time (I totally understand that).

OK, go ahead and light me up but please at least be informative and thank you in advance.

[Armani Emon]

Hey Hey ,

I think that you should look for local contractors in your area that do free estimates and see if they will come out and give you a free estimate. After they do that ask them for a break down of each cost so you get an idea of how much everything is costing.

After that contact another contractor to have him do the same and compare the estimates to see if they are consistent.(or get a free verbal quote)

If that is too much for you , theres a book  called estimating rehab costs I think that is helpful..