Rehb Estimator Tool

3 Replies

Has anyone used the Rehab Estimator Tool by PropertyMOB.com?  It uses National averages of rehab costs and I am wondering if it is worth it or needs adjustment for regional differences.  I am investing in Jacksonville, FL and I have no idea what our relationship is to the national averages.

Curiously yours,

Geoff Bickford

I wouldn't count on any tool that's based on national averages.  I know it takes a little more time to figure out what things actually cost in your area, but put in the time.  It'll pay off in the long run.

 I invest and rehab in multiple states. I am a hands on rehabber and contractor. Trust me there are extreme gaps in the material and labor costs per state. Although the big box stores keep their pricing consistent from state to state, outside of that the cost varies. The labor cost is the biggest difference state to state. If you use a national averaged estimator for a Jacksonville rehab you should come out with a reserve of funds at completion. If you were to use it for a California or west coast rehab then you would make it 1/3 through your project with a budget based on a national average. There is a another site you should use and that's "costhelper.com". This site is zip code based, a lot more accurate.

Happy Rehabbing!

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