How I Estimate Rehab Costs in Oregon

23 Replies

As we all are (probably) aware of - rehab costs differ in every area and state.  A good portion of my daily job responsibilities over the last 10+ years has been in estimating remodel and custom home projects for contractors, homeowners and landlords.  Typically I am on the "design and sale" side of the transaction.  what it has given me is a very comprehensive and in depth look at what costs are involved in most projects from construction/foundations to countertops.  As I have yet to close on my first Real Estate project I am looking to offer my help to other investors in the area that don't have this experience.

I firmly believe in "Givers Gain" and offering value to those that I would like to work with in the Real Estate Investment business.  The community here has been very helpful to me and I learn so much every day that I believe it is my turn to give back.

You never know until you put it out there... So, this is me putting it out there.

@Laureen Youngblood What a great offer.  You have down one of the toughest aspects of investing in RE.  The knowing how much the rehab will cost can be one of the most daunting tasks and just like you have experienced, repetition helps solve the problem.  Would love to know any tips/tricks that you might have in evaluating properties.

You have any idea on the commercial retail,  residential. Im shooting straight to become a builder for retail. Residential helps. Please review my profile details. 

side of costs in oregon, even in california. Cost of material sq ft. Costs for labor Sq ft. Savings if i were owner builder hiring the subcontractors. Duration to build certain structures. Savings part will help alot. Plesse review my profile. Thanks for your offer.

@Laureen Youngblood , as a newer investor, it is so great seeing someone offering to share their experiences!!! My husband and I are cracking into house flipping in the SW area of Portland (tigard/Tualatin). I would love to get together and discuss realistic ideas of rehab costs and types of rehabs to get top dollar.  

So, it looks like I will be sitting for coffee on Saturday, November 7th to meet with a couple of people to talk about rebab costs.  I will be there from about 4:30-6:30.  I am totally stoked to meet and talk with some other investors.

GOODNESS COFFEE HOUSE, 4925 SW Angel Ave, Beaverton, OR 97005

If you came late to this conversation and are from North Oregon or the Portland, OR area  I would not object to meeting a few more.

Happy Re-Habing

@Laureen Youngblood , Thanks for your offer. I looked up Goodness Coffee House and it looks like their hours are from 7:30 a.m. to 4:00 p.m. Are you scheduling an after hours meetup? 

I also want to thank you as I found a vegetarian/vegan place (La Vida Veggie) right next door that I'm definitely going to have to try. :-)

@Randy Johnston  ... Well that's what I get for assuming.  So,  It looks like that is definitely not going to work.  I do see a little place close by that could work.

Tan Tan Cafe & Delicatessen

12675 SW Broadway St

Beaverton, OR 97005

If someone that know the area has a better suggestion, I am all for it.  I was just hoping for something that was fairly close to one of the freeways for easy access.

Moving to Portland myself and will be meeting with GC @Michael Do with a similar goal.  I have a few spreadsheets from the Houston market that I have made and need to convert them to Portland.

I am happy to contribute to this group and share my spreadsheets, but I will not be in town until the 15th of November.  Excited to see what comes of the meeting on the 7th.

Thank you everyone!  That was amazing.  It was really great to meet everyone.  A couple of things I wanted to mention.

The form/spreadsheet that I shared with you is what I use as a rough estimate to get to my offer price.  Be sure to do your due diligence and have an experienced contractor give you solid pricing.  I am sure you all know that, but....just to be sure.

I am always available for questions and am happy to help any way I can!  

I'm looking forward to doing this again