Estimating Rehab Cost

2 Replies

Good morning Entrepreneur's

Are there any Rehabbers in the Staten Island or Brooklyn area? Humble student looking to tag along to learn how to calculate Rehabs .

Thank You in advance

One thing that we do in my office is look at comparable properties in the area. What did they sell for? were they in good or bad condition? is the price of the house over valued compared to what you would pay for it? A word of advise right off the bat would be to learn your market, find a niche or workload that you're comfortable with and stick to it.

Personally would love to invest in Staten island especially St. George and surrounding areas..what stops me is you really have to buy correctly priced homes coupled with the the fact that it can take 6-12 months and alot of lawyer fees to get a bad tenant out..you could easily lose 20k . But good luck to you your a braver man then me.. I own in the Midwest , looking into certain parts of pa. All landlord friendly.1 month $800 for a lawyer ..bad tenant gets removed.