Hi All, would anyone know the following for the Indianapolis market:
• Low / Medium / High end rehab costs per square foot?
• Addition costs (additional bedroom, bathroom, etc.) per square foot?
Thanks in advance!
That's a tough question and unfortunately the answer is it really depends. But I am finishing a larger projects where we did everything. Roof, all plumbing, all electric, all HVAC, all gas lines, adding bathroom, moving walls, all windows, huge deck addition, drywall every square inch. Literally everything you can think of. And spent $34/sqft. Mid-High end. Tile and granite and glass shower doors.
However, I'm have quite a bit of experience and have my own guys that only work for me so my overall pricing is probably better than yours. Possibly considerately better, depending on your experience. Plus I had to jump in and spend a few days/nights in the trenches when plumbers and electricians had broke truck syndrome.
If you are looking for a general wholesale number I would defiantly bump that up. But if you really manage it well yourself and get reasonable guys you can get it there.
Hi Josh, thanks for the excellent insight! I'm curious how many properties you're working on at once where you need to jump in and roll up your sleeves. It sounds like you're a full time investor.