NEED ASSISTANCE ANALYZING REHAB COST
I'm new to investing but was presented with a potential deal.
Purchase price: $550,000
Home built in 1922, 1000 sq ft, Class A neighborhood in San Diego
ARV: $760,000
Known issues: unpermitted garage conversion, broken windows (vagrants may have been inside at some point)
Home has deferred maintenance concerns, and it is not possible to view inside to inspect further. Are there any general repairs that would typically need to be done or is it possible to determine what may need to be done by going to the city Building department to determine when the last permits were pulled? I'm trying to get as close as possible to determining the amount of rehab necessary to garner a sales price of $760,000
@Genail Anderson As much as I hate to be blunt (I don't, I love it) can't help you. You need someone that knows prices in your area for labor and materials. Plus you have no pictures or anything, it's a guessing game like this. No one will tell you anything that will be useful because there are too many question marks. Just get a GC or a handy man to get you an estimate in your area. I can tell you what it costs in NJ to do it but that wont help at all.