Rehab Estimates for new investor

[Esther Soria]

Hey y'all!

I am a new investor and want to ensure I calculate my rehab estimates correctly. 

*what price per sq ft are you all using to calculate rehab cost in the San Antonio, Tx area?

I appreciate all the help! 

[Jake Pritchard]

Hi Esther, like Nicholas mentioned, price per sq ft isn't going to be a great way to estimate rehabs correctly. It is typically used when you want to ballpark a number quickly to see if it makes sense to explore a deal further, or if you have an established cost per sq ft from multiple of your own past projects. It will also depend on the type of rehab - is it cosmetic? is it a full gut? Those numbers will be different.

A better way will be to walk the house and take notes on all the work that needs to be done, then assign a dollar amount for each repair. For best results, walk the property with your contractor and do this together. Or even get bids from multiple contractors.