I am a new investor in the Chattanooga, TN area. I am currently looking at a single family home, built in 1900, that needs a complete gut job. I am looking for a good rule of thumb for estimating the gut job in my market. Ex. $50/sq ft.
I think there will be too many variables to give you this answer. Give more details, scope of work, maybe some photos and I’m sure you will get a better answer. What big ticket items? Foundation? Roof? Etc...
Attempting to price a rehab by per square foot is a good way to be incorrect and get yourself into trouble. There are way too many variables for each house. The only way that works is if you are taking it all down to the studs and rebuilding from there. Even with that, your finish materials can change dramatically from house to house. More bathrooms can also affect the price per SF. P,us, what I or another Investor can do it for can be much different than what you can do it for.
It is much better to identify the full scope of work in a full itemized list, then price out each line item.
@Brandon Hayes Around $50/sf to $400/sf.
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