Estimating Rehab Cost on Full Gut Duplex
I have a duplex I'm looking to purchase as a BRRRR, it's fully gutted inside but has a new Roof, Siding, Windows, Electrical Service.
My question is how do I accurately estimate rehab costs for the :
- Electrical
- Plumbing
- Hvac
- Drywall
- Flooring
When I go check out the property should I bring a General Contractor with me? Should I bring a Plumber, Electrician, Hvac, Drywall contractor with me? I don't want to waste anyone's time if I didn't purchase.
Purchase price is 10k which seems like a slam dunk with the siding, roof, windows, panels and already gutted, but the ARV is only 100k-120k so have to be careful with the rehab as the margins are thin. I don't mind leaving some money in the deal if need be but wanted to know what I'm getting into before I pull the trigger.
Right now I have a really rough ball park of 90k rehab with inflated price/sqft values i've found online for my area.
Thanks for any insight!
Most Popular Reply
Every state is different for rehab costs. You want to over budget for rehab, throw out a ridiculous number you know it won't cost. If the numbers still work it's a good deal