Hi, I am looking to do my first BRRRR out of state, and I have a video walk through that my Realtor took to highlight some of the repairs that it needs. My question is, how do I go on about estimating the rehab work thats needed based on the video?
I've been trying to get a hold of contractors in the area and was hoping to get them to give me a ballpark estimate of how much each repair would cost to get me an idea of what to offer for the property. Most contractors I did speak with aren't all that interested if I dont already own the home. A bit of a catch 22 here as I need a contractor estimate to offer on the home but they wont estimate unless I own the home.
What should I do here, should I just do some ballpark estimate myself (if so how do I go about it, I haven't done a whole lot of rehabs or repairs aside from my own home) and put an offer based on what I think the repairs are going to be? Any advice would be helpful on how to move forward!
1st questionHere are a few options: 1) Your realtor usally has someone they can recommend; 2) Create your own scope of work usign the walkthrough video - then ask a contractor to give you an estimate based on the items you identify. 3) Talk to multiple contractors, if one or two won't quote because you don't own it yet, find one that will.