Rule of thumb for estimating a rehab

2 Replies

Hi all,

Here is a question to you experienced rehabbers. Do you have a rule of thumb ( numbers) that you use to determine how much a rehab is. For example if you go into a house and it needs paint, new floors a kitchen and bath, do you price it out per square foot? or do you price it out on how you will rehab it ( price of the kitchen or bath etc.). 

Thanks for the feedback.

Emma

@Emma T. prices vary from area to area. Here in Pittsburgh a window is $300, painting an average room can be $150-$400 depending on the quality, size, and is it one color or two or three colors. A new Kitchen here is about $200 per linear foot and that includes labor, materials and granite. No Appliances. You can start a spreadsheet and start tracking what other investors are paying and what kind of estimates you are getting so for example you will know the next time your contractor gives you a bid on carpet thats 30 per square yard you can tell him that you are willing to pay $15 a square yard for builder grade carpet. Then the contractors realize you know what you are talking about and you will get taken advantage of a lot less. knowledge is indeed powerful. Good luck

Alex Deacon, Real Estate Agent
412-613-4435

Thank you Alex

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.