Rehab costs, need Estimator!

91 Replies

Hello, as a beginner I am learning how to count all costs for repairs but I can’t find any good estimators or contractors who could help me to find out estimate to fix one big house. I am interesting to buy 5 bedroom house, but there is a lot of stuff that needs to be done. I have a hundred pictures that I could send and explain what we would like to do, thank you! 

Without owning the house contractors are not likely to come give you a bid or estimate. You can offer to pay them, but they still may not be interested as their time is better served tracking down possible jobs for people who own homes.

Nobody works for free . And as a contractor I am NOT going to give you a price based on pictures . Not even a guestimate 

Originally posted by @Mel Cosio :

Are you saying there are no contractors that are willing to come out and give you an estimate? 

 I am ready to pay for their estimates, but it’s true  they are not going to come if you not going to hire them, and for me it’s become a problem to buy a house. I am trying to call any construction company’s now and simply asking them how much they going to take for work and after check and calculate prices for materials, but there is always something different.

Originally posted by @Brian Pulaski :

Without owning the house contractors are not likely to come give you a bid or estimate. You can offer to pay them, but they still may not be interested as their time is better served tracking down possible jobs for people who own homes.

 Thank you, I see what is the problem. 

Originally posted by @Matthew Paul :

Nobody works for free . And as a contractor I am NOT going to give you a price based on pictures . Not even a guestimate 

I didn’t say for free, every investor checking prices and quality different contractors. If I call you and simply ask you how much you will take to change 5 windows, you might answer to me, that’s all what I am trying to do  

@Alina Beryh  if you called and asked how much to change 5 windows , I would give you a price range between $500 and $15,000 . And I still could be under bidding .  There are way too many variables to quote like that . 

Since you need a estimator or contractor to give you costs , that alone tells me when any contractor started asking you questions as to what type of window , what type of sills , siding , etc , you couldnt provide enough info .

Originally posted by @Matthew Paul :

@Alina Beryh  if you called and asked how much to change 5 windows , I would give you a price range between $500 and $15,000 . And I still could be under bidding .  There are way too many variables to quote like that . 

Since you need a estimator or contractor to give you costs , that alone tells me when any contractor started asking you questions as to what type of window , what type of sills , siding , etc , you couldnt provide enough info .

 Okay, thank you, I got what to do. Yes you are right, and every house specific, that makes me troubles with estimating by myself 

@Alina Beryh  Unfortunatly as a beginner you will get an education . And education isnt free . Rehabbing and flipping isnt what you see on tv . It will take twice as long as you think . Why ?  The contractors arent sitting at home waiting for work , they are backed up . It will cost more than you estimated . Why ?  Once you open things up you dont know what you will find . So if it isnt specifically listed on the scope of work . Its an extra , that cost more and adds more time .

You change your mind during the project add $$$$.  

Remember if you dont buy right you wont make a dime , odds are you will lose money 

Originally posted by @Matthew Paul :

@Alina Beryh Unfortunatly as a beginner you will get an education . And education isnt free . Rehabbing and flipping isnt what you see on tv . It will take twice as long as you think . Why ?  The contractors arent sitting at home waiting for work , they are backed up . It will cost more than you estimated . Why ?  Once you open things up you dont know what you will find . So if it isnt specifically listed on the scope of work . Its an extra , that cost more and adds more time .

You change your mind during the project add $$$$.  

Remember if you dont buy right you wont make a dime , odds are you will lose money 

 You said that you are contractor, do you invest also?

Originally posted by @Andrew Dornan :
@Alina Beryh if you are buying from a realtor you could possibly ask them if they would have any knowledge about rough rehab costs or if they know of any contractors that they deal with.

 Yes, I do ask , sometimes they know and friendly and sometimes I have to do research 

Originally posted by @Alina Beryh :
Originally posted by @Matthew Paul:

@Alina Beryh  

 You said that you are contractor, do you invest also?

I buy and hold as rentals .   

Flipping a house doesnt make sense to me . I buy at a good price , repair whats needed and rent them out .  If I buy to flip I can save quite a bit since I am a contractor , but I still have to account for my time and bill that against the flip . Now I am using my money and taking risk  on that . I can make the same if not more working residential home improvements and NONE of my money is at risk .

Originally posted by @Matthew Paul :
Originally posted by @Alina Beryh:
Originally posted by @Matthew Paul:

@Alina Beryh  

 You said that you are contractor, do you invest also?

I buy and hold as rentals .   

May I ask you, how did you  and when you started investing in rental? 

Started in the early 1980s . It was something to do with my extra money . A customer was moving and asked if I wanted to buy his house . I did 

You can get a rough idea / a range from sites like costhelper.com.

Get 3-4 contractor bids for the same job, you will probably get 3-4 different prices, and things can change mid stream.

Or, my friend Stimpy says he will do the whole job for 1 million doll hairs. ;>)

Originally posted by @Matt Greer :
@Alina Beryh tell the contractors you’re buying the house and need to make sure it’s a good deal, and that you’re looking for a contractor so that the moment you buy you can start rehabbing.

The best! Thank you 

Originally posted by @Lee Bell :

You can get a rough idea / a range from sites like costhelper.com.

Get 3-4 contractor bids for the same job, you will probably get 3-4 different prices, and things can change mid stream.

Or, my friend Stimpy says he will do the whole job for 1 million doll hairs. ;>)

 That’s awesome, thank you for recommendation! 

Originally posted by @Lee Bell : man thank you again that what I needed, just examples all costs and there is even more, from cheapest to the richest remodeling plus I can find my town and that gives me even more, thank you! 
@Alina Beryh Around my area most contractors will give a free estimate. Non have ever asked me if I own the house. And if I have the lock box code how do the know I do or don't own it. Maybe we are closing that day. I'd just tell a contractor you have a house/rooms that needs rehabbed and you need an estimate. If they want the job they'll come.
Originally posted by @Michael Hollander :
@Alina Beryh Around my area most contractors will give a free estimate. Non have ever asked me if I own the house. And if I have the lock box code how do the know I do or don't own it. Maybe we are closing that day. I'd just tell a contractor you have a house/rooms that needs rehabbed and you need an estimate. If they want the job they'll come.

 In what area are you? The same, I thought it will be much more easier, the same as you would call plumber and ask him price for service

I'm in NJ.  I also have had a good response by asking for recommendations on Facebook. Ask your friends who knows a reliable licensed/insured contractor. This way it's more of a warm transfer referral. I'm sure they'll come to give an estimate if when u talk to them U say "any name" knows you and referred me to you. Now if you are getting the place use who give the best bids. If u keep using the same people for bids and never give them work I'm sure they will start to ignore you.  Over time if you continue to rehab houses you'll build relationships.  And probably be better at ball parking rehab costs your self.