How Calculating rehab

Question

How do I calculate rehab cost and labor when walking though a property

J Scott · Answer

Start here:

https://www.biggerpockets.com/...

Andre Bias · Answer

@Greg Dickerson ok thank

Greg Dickerson · Answer

You want to walk through the house and make a detailed list of everything that needs to be done so you can create detailed line item pricing.

If you are unsure of what you’re looking at you can hire a home inspector and go through the house with him or her and learn what to look out for.

Once you have your list you can get pricing turn key from subs and vendors but they will need a very detailed scope of work with all your selections etc. Take this info and build yourself a costs data base so you will have it moving forward.

You can also get standardized pricing from all the trades for various items like roofing, siding, painting, kitchens, flooring, etc. Always get turn key pricing including materials and the suds supply materials. This will save you time and money especially with any warranty issues after the sale.

If you need to calculate labor for a task you need to know what the going rates are for the trades and break the task down by the amount of hours it will take. If you don’t know ask the subs to help you with this so you can formulate the budget but never hire sounds or labor the hour only by the job. You can determine a cost for any task when you approach it this way.

Main thing is to document all your costs for every project so you can build your cost data base for future projects.

Andre Bias · Answer

@J Scott thanks