So this would be my first rehab. I could pick up this duplex at an absolute steel, and could probably rent this out once finished for about $750 3BR unit and $650 2BR unit. My bank will give me a 10 year 6% rehab loan at 90% of rehab costs.
Where do I even begin to price this out? Do I have a few general contractors walk through and give me estimates?
Can any body give me a rough idea of what I'd be looking at in rehab costs? It's in the ghetto so just want to make it in rentable condition. Nothing fancy what so ever, I plan on doing the minimum just so I can rent out.
Any advice would be great.
That's easy, between 10k-200k.
@Gabe Sirkin I would look at J. Scotts book on estimating rehab costs. Also I would have a junk company come out and remove everything then have a GC come out and give bids.