Estimating Rehab Costs (No Experience Needed)
Estimating rehab costs correctly is crucial when buying a fixer-upper, a flip, a BRRRR property, or even doing a minor rehab on your current rental property. If you’ve never done a rehab before, these calculations can be daunting. Luckily, they don't have to be, and if done properly, you’ll be able to stay below budget and walk away with a killer deal! Even if you don’t know how to estimate rehab costs, someone in your close circle might. Do you have any friends or family that are contractors? Have you used a contractor on your primary residence that could help with the estimations? If so, you may already know someone who can help analyze a deal with you (whether for a fee or free). Before you head out and hit the open houses looking for rental property deals, make sure you follow Ashley’s advice on estimating rehab costs! ~~~~ Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup ~~~~ Grab “The Book on Estimating Rehab Costs”: https://store.biggerpockets.com/produ... ~~~~ Home Depot’s Volume Pricing Program & Bid Room: https://www.homedepot.com/c/Pro_Volum... ~~~~ Finding Contractors with James Dainard: https://www.facebook.com/watch/live/?... ~~~~ Screening Real Estate Partners and Structuring Partnerships: • Screening Real Estate Partners and Structu... ~~~~ Follow Ashley Instagram: @wealthfromrentals or / wealthfromrentals 00:00 How Do You Estimate Rehab Costs? 00:54 Search Within Your Circle 01:15 Spoiler: This Isn't HGTV 01:45 Know YOUR Local Market 02:41 What To Do With Prospective Properties 03:55 Hiring a Contractor vs. DIY 04:25 Pricing Your Improvements & Repairs 06:08 4 Tips to Save You $$$
