Do You Build Contingency Into Every Rehab Budget?

Question

How much contingency do you typically budget for cosmetic rehabs?

• 5%
• 10%
• 15%
• More?

Curious how experienced flippers approach it.

Caleb Brown · Answer

5-10%. Older homes I would have a larger one.

Robert Cervantes · Answer

I keep it at 10% for all flips.

Bill DiFilippis · Answer

Deal desk manager here - majority of our fix and flip loans are 10%. MAYBE if it's an experienced investor 5%.

Tracy Thielman · Answer

Thanks!

Tracy Thielman · Answer

Gotcha Thanks!

:)