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Updated over 6 years ago on . Most recent reply

How much to set aside for a new roof?
I am analyzing a fix and flip property in the Hampton Roads, Virginia area. I went to see the property and while I think 80k renovations to turn this property around is reasonable, it needs a new roof. In looking at the roof (I'm not a roofing expert) I know it will need new shingles, but there is also some wood rotting that I is visible from the outside, so I am hesitant that the frame under the shingles are also compromised. While I know prices will vary by market, does anyone have any idea of how much extra I should plan for the possibility of a new frame? Thanks for any and all input!
Most Popular Reply

It depends on the type of roof comp, tile, concrete, metal. But at a minimum I'd set aside $10,000 and depending on the size and type of roof it could be closer to $20,000