need a ballpark rehab cost to determine if its a "buy"

[Bill Kenny]

I have the opportunity to purchase a 2 bed 1.5 bath home with a good bit of work needed.. need to determine the offer price.

ARV will be around 75k to 80k

needs:

1.outside drainage issues repaired (front and back)

2.new floor in kitchen and bathroom, the rest of the hardwoods sanded.

3.paint the whole home 770 sq ft

4.new rear deck on 20x30ft

5. new drop ceiling in basement

6. major cleaning!

just looking for some ballparks to get me in the right direction.. this is my first rehab project. thanks!

[Account Closed]

Very difficult to give you a "ballpark". The first rehab I did, I did myself. I was way off on my costs, timelines, and what needed to be corrected. Further, what I need to fix in Chicago, is different due to Taxes, materials cost, permit requirements and codes, than was is needed in Indianapolis.

I am a large proponent of valuing your TIME. Don't do the work yourself, use that time to work on your business, not IN your business. Your job is to find buyers, sellers and get financing. Not to do the work. Bring in contractors, get bids, etc.