Estimated Rehab Cost Per Sqft in Maryland?

Question

Hello Everyone!

I am trying to get a general idea what the cost per sqft is to rehab a property in Montgomery county, MD. I have a contact that is a wholesaler in that area, but I don't have much local knowledge. Thank you in advance for your help!

Account Closed · Answer

I am trying to get a general idea what the cost per sqft is to rehab a property in Montgomery county, MD. I have a contact that is a wholesaler in that area, but I don't have much local knowledge. Thank you in advance for your help!

When a so called wholesaler, (who is usually an unlicensed, not aware of real estate practices, an individual who has taken a get rich seminar in wholesaling real estate, who is trying to accomplish a quick flip without the legal and proper assignment agreements or sufficient contract of sale) ----- the first thing I want to see is their contract of sale, how much they are in for (how much they are trying to make), I want to know if they are really under contract, how long is their contract, what is the settlement date, do they really have the right to assign and what their contingencies are, if any and if they have possession!

Many of these folks are just predators trying to get over on an owner for a quick buck.

I would do a search find the owner - ask questions about the offer they have and what they expect to gain on the transaction and when is the settlement date. Many of the wholesalers, I have found, don't even have a contract - they are just testing the market.

As for the sqft. cost to rehab, once you control this property - you'll be in a better situation to be able to determine your profitability.

Sorry to be negative on answering your questions - but that's the best I can do.

Michael Gessner · Answer

impossible to answer way to many variables, get your self a few contractors to go look at the property to get a general idea of whats needed and costs. I say a few why ? you will most likely get different ideas and prices from each

Russell Brazil · Answer

Way too vague a question to answer.  Price points for properties in Montgomery County vary from under $100k to multi million dollar mansions.

Estimated Rehab Cost Per Sqft in Maryland?

Most Popular Reply