Recent Rehab cost?

[Lee Yang]

Hello Flippers,

What are the recent rehab costs per sq.ft within the twin cities? Recommended contractors?

Thank you,

Lee Y.

[Daniel Anshus]

@Lee Yang everyones pricing is going to be different and the scope of work is going to be different. Rather than trying to formulate a price PSF you should learn the approximate costs of as much as you can. You can learn this by working with people who are doing it, speaking with investors/ contractors. If you are looking for a GC there are a lot that someone can recommend but know that a GC will more than likely make any investment property to expensive to rehab

[Lee Yang]

Quote from @Daniel Anshus:

@Lee Yang everyones pricing is going to be different and the scope of work is going to be different. Rather than trying to formulate a price PSF you should learn the approximate costs of as much as you can. You can learn this by working with people who are doing it, speaking with investors/ contractors. If you are looking for a GC there are a lot that someone can recommend but know that a GC will more than likely make any investment property to expensive to rehab

 @Daniel Anshus - Thank you for the tip!

[John O'Leary]

It might be a little more leg work, but sub contracting the work might save you some $$

[Amber Gonion]

@Lee Yang. We do remodels for our clients every month, it really depends on the level of rehab. In general you are looking at 15k-25k for 2-3 br. for paint, ceilings, carpet, appliances, granite counters, outlets, plumbing, repairs, light fixtures, bath vanity, toilet.

The age of the property, and general repair are big factors, no two are the same, and two contractors could come up with a different scope of work. Be sure to budget 20% for things you don’t know about yet.

[Lee Yang]

Quote from @Amber Gonion:

@Lee Yang. We do remodels for our clients every month, it really depends on the level of rehab. In general you are looking at 15k-25k for 2-3 br. for paint, ceilings, carpet, appliances, granite counters, outlets, plumbing, repairs, light fixtures, bath vanity, toilet.

The age of the property, and general repair are big factors, no two are the same, and two contractors could come up with a different scope of work. Be sure to budget 20% for things you don’t know about yet.

 @Amber Gonion, Thank you! I'll keep you on my list.