Ok Everyone. I need a good resource for how to quickly determine what the important key items
Are to focus on when estimating renovation costs. Yes, I can get a contractor out to this house but I need to jump on this deal quickly before it's gone. The ARV is $390k and the agent I'm working with thinks I can get it for $250k. What's a good book or website that I can use as a solid resource for estimating Reno costs on a SFR. This is in Minneapolis, MN.
@Steve Dillner Bigger pockets has a book on the subject however for you to learn the skill at this point is going to take longer than getting a contractor to give you a quick estimate.
Estimating rebab costs is not an overnight accomplishment. This is one of the hardest aspects of BRRRR investing. I will recommend The Book on Flipping Houses: How to Buy, Rehab, and Resell Residential Properties - by J Scott.
It's an older Bigger Pockets book but full of useful information.
Thanks Jaron. I just picked up 3 of Brandon's books off of Amazon so I'll check out this one too.
There are many variations and even some of the most skilled investors dont know everything that goes into a flip. My experience in renovating, new construction, and building code helps me understand everything that will come up on the project including code violations and requires updates, possible hidden problems, etc. so you have a correct figure ahead of time.
We charge for our walk through inspections and written quotes but if you contract us for the job we credit that towards your contract price. Feel free to reach out to me on here or call our office. VL Builders