Accurate estimate of Rehab and ARV cost in BRRRR strategy

[Semilore Lawal]

I would like to know what is the best way to get an accurate estimate of the property rehab costs and ARV cost in the BRRRR strategy prior to buying the property.

[Marcus Auerbach]

I have been BRRRR-ing for 15 years and still don't get it right LOL

First you need a good scope of work, and this is already the first problem, because its difficult to write up an accurate SOW and if you add things later (and you will) you'll blow your budget.

My experience here in Milwaukee is about $50 per SF for a full rehab recently. We used to be around $35.

ARV is an art and a science. Many agents struggle with it, it takes a lot of practice to get that part right consistently. So you have to find an agent who has experience and also understands your SOW.