Estimating rehab and rehab cost

4 Replies

Hey guys, 

  What are some great resources to teach a young person who's never had construction experience how to properly estimate rehab cost? 

  How do I know what needs upgraded or repaired? 

 How do I calculate material cost?  How do I figure out what materials are necessary for any given rehab? 

 How do I figure out the cost of labor? 

  I understand this is a broad topic but any resources would be appreciated.  Every rental property I own so far has not needed repairs but I'm wanting to get into some tougher rehab properties.

@Wilson Lee   I haven't read it myself yet but I always hear great things about J Scott's book. The book on estimating rehab costs.  He also has a book on flipping houses as well , both have excellent reviews on Amazon. 

https://www.biggerpockets.com/store/flipping-estimating-physical

 Thanks for the quick reply!

 Can anyone hear  testified to  how actionable  and current the advice in  The book Josh suggested is? 

 I've got burned in the past buying some books that ended up being mostly hype.

@Wilson Lee , Absolutely.  The book is a step-by-step blueprint laying out everything you need to know.  It is filled with charts that can really help organize and structure your front end analysis on each property.  I highly recommend this book.

@Wilson Lee both books are great. I am in construction myself. However, some labor pricing is way off at least comparing them to Chicago market. Might be pretty similar to AL since J Scott is from Atlanta area. Otherwise, definately very informative and well organized. Easy read!

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