Rehap Estimation Skills + Capital for Rehabs

8 Replies

Hi BPers,

I'm a recent investor in Houston. I've put three properties under contract in the last 6 months, and I'm currently looking for investors who have successfully done flip projects. I would like to discuss best practices in doing flips and get the opportunity to go to project sites as I'm looking to sharpen my rehab estimation skills.

In exchange, I will offer to help you in your project(s) by offering realtor services (I'm a licensed salesperson), running errands, or even contributing capital to a project if we are a good fit.

Look forward to chatting with all

  

@Felipe Carrillo I am a local investor who does 2-3 flips a month here in Pittsburgh PA. Your best bet is to hook up with a very good General Contractor  (GC) who can handle the project for you. find one who is investor friendly. Otherwise you are going to have to learn the hard way and with the money you think you will save by doing it yourself you will spend on mistakes, holding costs and time to complete the project. The real challenge is finding that good reliable and honest GC .

good luck to you Felipe.

Alex Deacon, Real Estate Agent
412-613-4435

@Alex Deacon Thanks for the tip. That is definitely my plan, to use a GC to manage the project for me. I have a full-time job and it would be extremely difficult for me to manage the project on my own.  The reason why I'd like to hone in my rehab estimation skills is more for knowing how much to offer for a house at appointments. Do you have a recommendation for how to do this? What did you do when you start? 

@Felipe Carrillo, estimating rehab is actually one of the easiest parts of the transaction once you get systems in place and know what you're doing.  Getting a GC sounds good, but you still need to know what to expect costs wise (like you mentioned) to be able to make a decent offer.  Let me know if you'd like to meet up sometime to discuss and I can show you how I do it.  I'm always open to help out people and build relationships!

Feel free to PM me and I can take you out to my current project. 

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