I am wondering about cost estimating software. I need help accurately calculating fix up cost for my deals. Ie roof replacement, AC replacement, flooring and general remodeling cost for my area, Galveston and Brazoria County, Texas. I want to estimate cost myself instead of depending on finding subcontractors and obtaining bids. I am a cautious investor, but need tools to help me move quickly and pull the trigger on deals, let's talk
If you're happy to pay retail prices (what homeowners would pay), there are several tools out there that will help you forecast your costs. If you want to get things done less expensively (as most rehabbers do), you're not going to find any big tools. The amount an investor will pay depends on a lot of things:
- Type of contractor used
- Type of house
- Level of finish
- Time of year
- Negotiating ability
- Volume of business the investor does
Without factoring in all those things, there's no way to know what it will cost for YOU specifically.
That said, BP does have a great book (disclosure: I'm the author) that details the methodology for creating a Scope of Work and using it to generate accurate rehab estimates ("The Book on Estimating Rehab Costs"). But, it's not just plugging some numbers into a tool...it involves some work. There's no way around that.
If you really want to cut costs on things like drywall, paint, insulation ans some other items I direct your attention to thehomerenovator.com. This is a very efficient tools for estimating that I had the good fortune to work with in the past. Right now the online tool is free.
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