All Forum Posts by: James Hill

It is a SaaS app that we have developed for investors, wholesalers and lenders who buy distressed single-family real estate. We use repair cost heuristics to help investors make really fast and shrewd investment decisions. 

I am trying to figure out what other people are doing in order to better understand our market. I ask this question a lot at speaking engagements and I am always surprised at the lack of substantive responses. The most common answer so far is homemade excel spreadsheets. I have heard Hammerpoint a few times. There are a few more that I cannot recall right now...

I am hoping that the Bigger Pockets crowd will have better feedback. 

So are you using a homegrown excel template or something else?

What are you guys using to do rehab cost estimates? How long does it take to get accurate numbers when you evaluate a house?

Check out this resource from a book called FLIP by Rick Villani.  It is a $/sf rehab cost estimating guide. 

www.estimatingrepairs.com/matrix

I liked Sam's idea of a RE meeting for the North Austin Suburbs. 

Steven, 

I have been working on a rehab cost estimating calculator that is algorithmically based (meaning it does not require very much user knowledge or input to generate a ballpark budget). 

This is a very unique approach to cost estimating. I have used the unit pricing indexes from Freddie Mac and Fannie Mae to create the algorithm, along with my own experience managing a HomeFixers franchise for over 10 years. 

We just released it in 2015, I would love to hear any thoughts or feedback you or the other BiggerPockets members have. 

Save 20% at checkout by using promo code: "BIGGERPOCKETS"

www.estimatingrepairs.com

What is it?

A web-based software to help people evaluate fixer-upper houses.

Who is it for?

Real estate professionals of all skill levels who need to quickly and easily evaluate distressed single family real estate.

What does it do?

Helps determine the following items associated with a home rehabilitation project:

  1. High Level Scope of Work

  2. Baseline Rehab Budget

  3. Insight into Potential Risks

  4. Tools for Financial (R.O.I.) Analysis

Finally, it generates a very concise and elegant due diligence summary report that can be shared with friends, business partners or lenders.

Nam, 

I agree with James about the http://ntarei.com/ Club. Roger Hodkin is the club owner and he is great about keeping things real and providing real value to the members. There is also a big REI Expo coming up in mid January that you might want to attend. http://www.reiexpo.com/?gclid=CjwKEAjwi4yuBRDX_vq0...

$90/sf seems really high unless you are doing major structural repairs or a REALLY high end finish out. 

Have you tried running the numbers through an estimating tool like the one here? www.estimatingrepairs.net

Have you tried running the numbers through an estimating tool like to one here? www.estimatingrepairs.net