How to get the $/sqft for renovations for a state for cosmetic/mid-range/full gut?
I think I already got everything. I just need to know if I as a wholesaler need to use micro-underwriting to estimate each renovation cost like shaker cabinets, LVP floors, etc... for a subject property before contacting the seller (I know to ask for the condition from the 4 pillars to check for repair issues like roofs that need to be installed, HVAC, Plumbing, Electricity, etc...) to get the "renovation estimates" to give to the cash buyer after the seller signs a contract and also I know to get photos and videos of the sellers house. I asked Gemini AI this and gave me this response ->
If you are wholesaling the deal to a cash buyer, your cash buyer is going to do the detailed line-item math (shaker cabinets: $150–$250 per linear foot installed for standard RTA/all-wood shaker cabinets, LVP floors: $2.50/sqft for materials + $2.50/sqft for labor = $5.00/sqft installed, SS Kitchen Appliances: $2,500–$3,500 for a standard investor suite: fridge, stove, microwave, dishwasher) during their walkthrough. If your macro-estimate ($/sqft) was way too low, they will walk away from the deal or demand a massive price drop. Keeping your initial $/sqft tiers realistic and localized to your specific market is the secret to getting deals past the finish line.
So if this response from Gemini AI was true, where can I find the $/sqft for macro-underwriting?
Cosmetic ($20-$40 / sqft ): Carpet/LVP, paint, swapping a few light fixtures, maybe light appliance updates. Structure and mechanicals are 100% fine.
Mid-Tier ($45-$75 / sqft ); Full kitchen and bath remodel (cabinets, counters, appliances, tile), plus flooring, paint, and maybe minor drywall repairs or a water heater.
Full Gut ($80-$120k+ / sqft): Taking it to the studs. Brand new framing, roof repairs, total rewiring, all new plumbing lines, brand new HVAC system, plus all the cosmetic finishes.
Also should I ask for things like if your floors new so I can already have LVP floors in mind that need to be installed if the seller says no in the 4 pillars check for condition?