Best Way To Learn Rehab Estimates

[Jose Castillo]

Hi BP, any experienced flippers out there that can help me find out what's the best way to learn Rehab estimates? I did buy the book by J. Scott and I'm looking at as many houses as I can but is there anything I'm missing? How did you learn as a beginner? Any help would be greatly appreciated. Thanks.

[Michael Noto]

@Jose Castillo Most of what is learned as a beginner in the rehab business is through trial and error. There is no substitute for getting out there and doing it.  Go and look at houses, write down everything that needs to be fixed and write out mock budgets by researching what it would cost to repair the house in your local market.

Beginner rehabbers in a lot of cases think there is a way to take risk out of the equation when flipping.  Fact of the matter there is huge risk involved and the more you educate yourself you can mitigate that risk some, but it will always be there.