Newbie fix and flip question

[George Moehlenhoff]

I have no rehab experience. Want to put an offer on a property following the 70%-repair=Mao, but how do I get an accurate rehab estimate BEFORE making an offer with 0 rehab experience? Thanks everyone!

[Will Barnard]

Edwardo is correct and kudos to him for reading and retaining the info. This is something I have posted many times on this board. You must be able to estimate repairs properly and accurately. This does not mean you must know how to swing a hammer or fix a toilet, just know how much the toilet costs and how much the cost is to install it.

To get that info, create a punch sheet of common repairs (paint, interior doors, tile, carpet, toilets, bathroom vanities, windows, closet doors, light fixtures, etc.), go to HD or Lowes and price them out. Take that info (keeping it to yourself) and get a contractor to bid on a potential purchase. Compare his quote with that on your sheet.
After some time of doing this over and over, you will get a knack for costs.