Comps and Repairs Process

[Josh Rogers]

I am trying to gain a better understanding of the comps process and also calculating repairs. From what I've seen, many new wholesalers make the mistake of inflating ARV values out of inexperience, greed, etc. what are some reliable sources for pulling comps so that I can get a more realistic ARV. Also, can anyone give me a bit of insight on how to best estimate repairs. This is another area where new wholesalers seem to inflate values. Any help would be greatly appreciated. Thank you

[Josiah Cammer]

Best way to estimate repairs for a newbie is first understanding the cost of the materials. Go to home depot or Lowes, what ever your materials store maybe and figure out pricing of items everything from cabinets, fixtures, flooring. Then I would talk to some local contractors and see what they charge for labor, typically it will be 20% more expensive to hire a contractor then just paying a crew hourly or doing the work yourself. Then I would talk a few foundation experts and see what they are charging and for what, after doing your research and reaching out for professional opinions, you should get pretty good Idea of what things cost to repair