Evaluating rehab costs

[Dona Cardenas]

What is the best way to calculate rehab costs when just starting out? I can fill in all the other blanks in the BP calculators until I come to this blank! Help?

[Matthew Irish-Jones]

@Dona Cardenas  There are really only two ways.  Use a experience/formula to estimate or get an estimate from a General contractor

For estimates on rehabs we are using an internal formula, paint = X per square, flooring = X, kitchen rebuild, etc, etc... Its very tough to develop these costs per square without past projects to pull from.  

Every city has different labor and material costs.  This is the most challenging part of investing, getting accurate rehab costs.