Estimating cost of repairs for a Wholesale property

Estimating cost of repairs for a Wholesale property

Riverside, IL · Member since 2016 · 9 posts · 0 votes

Hello, 

Am new to wholesaling! i would like to know if anyone here have any tips, systems, or ideas with coming up with accurate repairs cost to fix a property for a new investor?

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Julie MarquezPro Member
Investor · Skagit County, WA · Member since 2016 · 1k+ posts · 807 votes
9y

Check out the Bigger Pockets book by J Scott.

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  • Julie MarquezPro Member
    Investor · Skagit County, WA · Member since 2016 · 1k+ posts · 807 votes
    9y

    Check out the Bigger Pockets book by J Scott.

  • Real Estate Broker · Mount Olive, IL · Member since 2013 · 1k+ posts · 310 votes
    9y

    @Account Closed

    Welcome to BP. 

    J Scott has a great book on it. There are many theories out there for rehab estimates. Some people go by square feet. 

    Hope it helps.

  • Property Manager · Pittsburgh, PA · Member since 2012 · 267 posts · 136 votes
    9y
    Some local real estate investor groups do walk throughs of properties before/during/after rehabs. If you find local investors doing that then attend and ask questions so you start to learn.
  • Flipper/Rehabber · Springfield, MO · Member since 2014 · 114 posts · 67 votes
    9y

    @Kiara Bryant  Find a local contractor that you can pay for them to walk you through your first few properties. Have them point out what different components cost (roof, HVAC, plumbing, electrical, paint, flooring) and what to look for to determine if they need fixed/replaced. I have not read J Scott's book but there are great reviews about it. Just remember costs will vary between markets.

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