estimating rehab cost long distance

[Alfred Dimartini]

I currently live in NYC and am looking to invest in and around Indianapolis IN. I am looking at properties with moderate to heavy rehab in the hopes of forcing appreciation. I am using the calculators every day and analyzing properties, but when it comes to rehab amounts I feel foolish punching in wild guesses. I do not have "boots on the ground". I currently use a basic table I'll include below as it might help others, but what am I missing?

                                       under 1500 sq ft                           1500-2500 sq ft                             2500-3500 sq ft

Light Rehab                              10k                                               15k                                               25k

Moderate Rehab                        25k                                               35k                                               45k

Heavy Rehab                             50k                                               75k                                                90k

[Gil Segev]

You should get boots on the ground or at least speak with a few contractors to get a feel for the costs of rehabs in IN.. If you can get a couple of weeks to inspect the property as part of your contract it would be a very good fail safe.