Estimates before buying

[Leslie Stouffer]

I am looking at a half done flip to finish and turn into str.  Is there a way for me to get rough estimate on completion ( I understand that it can vary wildly) before I even put an offer in?  And the kicker is its long distance. 

[Drew Sygit]

Quote from @Leslie Stouffer:

I am looking at a half done flip to finish and turn into str.  Is there a way for me to get rough estimate on completion ( I understand that it can vary wildly) before I even put an offer in?  And the kicker is its long distance. 

To do this well, you would need established connections wherever this property is located.

OR - you would need a lot of rehab experience.

Otherwise, your chances of getting screwed are pretty high!

Why?

1) Bids that don't cover everything - leading to nonstop change orders that ruin your ROI.
2) Substandard contractors that don't show up consistently because your from out-of-town and not a source of additional business.
3) Substandard work because contractors know you aren't there to watch them.

FYI - we have these problems LOCALLY and have to watch EVERYTHING! 
- Yet, owners think it's so easy and are constantly complaining about our Project Management fees😫