Hello all new Investor here. I was listening to a podcast and I remember the guest speaker mentioning he had made a spreadsheet with average cost for typical repairs. I wanted to see if anyone had one made up or a template I could use to possibly start off with and modify as I move along. I am looking to invest in the Houston market and just wanted a baseline spreadsheet if it was out there. Thank you all.
@John Taboada - What market are you in? That will definitely affect the cost of labor and materials. It will also help to get local investors to see your post if you at some keywords (i.e, Atlanta, Nashville, where ever you are haha).
Here are some rough rates for trades in Chicago:
Caparentery = $50/hr
PLumber & Electrican = $65/hr
Labor = $30/hr
Keep in mind these are super ballpark and vary greatly depending on contractors and their size.
I also found this website to be somewhat helpful: https://www.remodelingexpense....
I see you are a contractor in Chicago. Will you please move to Nashville and help us out with the severe shortage of trades people we have down here???
Check out “The Book on Estimating Rehab Costs”
@David Goodman thanks Dave I actually bought it last week and waiting to read it !
@Jonathan Klemm I’m in Houston and thank you I’ll check out website.
@Luka Milicevic - Scaling and jumping into new markets is definitely part of our business plan. Totally focused on bringing technology and transparency to Chicago first and then maybe Nashville after the machine is up and running.
What types of projects are you doing down there?
No @Luka Milicevic . We have a shortage of quality trades and contractors here too.🤣
I'm almost 100% in new construction. I don't do much renovating.
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