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

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