New to Real Estate · Oklahoma City · Member since 2020 · 9 posts · 0 votes
Really new investors here. We’ve looked at several properties but have no idea what we’re getting into cost wise, for updates and general fix ups. Is there any good rules of thumb or tools out there to help calculate what we’re getting into?
Real Estate Broker · West Bloomfield, MI · Member since 2018 · 152 posts · 77 votes
6y
I recommend J Scott's The Book on Estimating Rehab Costs. It won't give you exact number but it will get you in the ballpark. Then as you do more deals you will be more familiar with the costs of things and also you could start your own spreadsheet to keep track of local prices. Good luck!