Rehab Costs Estimation

[Priscilla Jaimes]

Hello BiggerPockets Community,

I was wondering what were wholesalers and rehabbers in the Chicagoland area using to estimate rehab cost per square feet.

[Kyle Buchbach]

Hey Priscilla,

I can't answer your question with exact specifics (especially as I am a new investor) however, I recently listened to this podcast and Eric does a fantastic job laying out the basics.

Example: he runs through a basic example of a 2k sqft house - more specifically, covering the 1) Kitchen 2) Bathrooms 3) Windows 4) Roof 5) Flooring 6) Trim/Doors and 7) Landscaping and he includes not only the cost of the individual materials, but labor spreads as well.

Personally, I benefited tremendously from this. If nothing else, it at least gave me a nice foundation as I begin my hunt to create a master spreadsheet including a comprehensive list of all potential rehab costs (specific to the Chicagoland pricing)

Hope this helps - Enjoy your weekend!