Kuba Fietkiewicz here, founder of REIkit.com online house flipping, wholesaling, and buy and hold software based in Los Angeles.
Today I wanted to discuss common barriers to getting accurate property rehab cost estimates for your fix and flips.
If you've already flipped a few properties, you have some idea of how to approach getting construction cost estimates and maybe even have a solid process in place for doing so on future flips.
The question is, if you're estimating your own rehab costs without a GC, how much time and effort did you spend in itemizing, quantifying, and estimating costs in a spreadsheet or on paper?
Were you able to estimate reasonably accurate material and labor costs for all of those repair items?
When doing my own flips, I found that my rehab repair items were a pain to type up, sort, and price, and that's why I created the online Rehab Estimate tool.
In the Detailed Cost Estimate section of the tool, you'll find every item you need to price out repairs -- down to the quantity, size, and cost of the nails used for drywall.
Simply browse for the item, enter the quantity, and the tool calculates a material and labor unit cost and adds it to your project list.
The best part is that all of the costs are pulled right out of the latest Construction Cost books by one of the most respected names in the industry.
In addition, they are indexed to a zip code, meaning that the costs you find in the tool are the most up-to-date and accurate for your area.
The online Rehab Estimate Tool is a solid addition to your business - click on the link below to start a full-featured, free and risk-free trial to try it out:
Any questions or feedback about the software, I'd love to hear it in the comments below or chat on the site.
PS - when you sign up for a free trial, you'll also get full access to all of the other features in your REI/kit software system, including online Lead Pages, Seller Leads CRM, Premium Data for Comps and ARV, Loan History Information, Deal Analysis, Deal Marketing, and more.
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