Discussion: How do you calculate renovation costs at scale?
I’m curious how you've developed processes to reliably generate renovation budgets. I get that estimates are always just estimates, but clearly many of you have found ways to consistently produce numbers you can trust enough to move forward.
I know the 70% rule is a nice measuring stick for getting BRRRR math to work out. I've collected small spreadsheets (thanks Coach Carson) from youtube videos that seem to give me a good inventory list, but I'm very curious about the day-to-day experience of what you might be doing to get this spreadsheet filled out:
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When you're walking through a property for the first time, what's that actually look like? Are you personally taking notes, snapping photos, and eyeballing costs on-site? Or are you immediately pulling in your contractor and working off their quotes?
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Do you have a particular flow or checklist that's become second nature when estimating a project?
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How do you ensure you're catching hidden issues early enough not to blow up your budget down the line? Any specific red-flag checks you run to keep yourself honest?
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What's been your biggest friction point or repetitive headache when estimating renovations? Those annoyances that pop up again and again?
If you could go back to your earliest deals, what's the one thing you wish you’d started doing sooner when it comes to estimating?
I'd love to hear about your practical tips, personal workflows, and especially those war stories from the trenches. Thanks for sharing your experience!
