Updated almost 9 years ago on . Most recent reply
formula for Rehab costs on Flip and Fix.
I need to know the 2 minute formula for rehab cost. I'm finding homes that have good profit margin but the rehab cost is a little high. What is a formula that will work on most flips? I have one that I use but I want to make sure that there will be enough cash.
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Todd Dexheimer
#2 Multi-Family and Apartment Investing Contributor
#2 Multi-Family and Apartment Investing Contributor
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- St. Paul, MN
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Todd Dexheimer#2 Multi-Family and Apartment Investing Contributor
#2 Multi-Family and Apartment Investing Contributor
- Rental Property Investor
- St. Paul, MN
@Regina Jones I took the class of hard knocks, nothing else. The main lesson I have learned though hundreds of deals is that you need to be conservative. Over estimate your renovation budget and underestimate the sales price. If you're new, go get contractor quotes and use those plus 10% for the renovation.