Part I: Exterior and Mechanical
Does a property go under contract to someone else while you’re still pulling your rehab estimate together?
If you’re not a contractor, with Home Depot’s database in your head, how do you estimate your rehab budget on a redevelopment project?
- Do you spend days waiting for your contractor to show up to give you an estimate?
- When he does show up, is it days more to get the numbers?
- While you’re doing all this waiting, does someone else get it under contract?
- Are you missing out?
We’re going to go through a property and give you the “Rules of Thumb” that will help you do the Quick and Dirty estimate in about 20 minutes. This is not a substitute for going through the property with your contractor in detail, or developing a detailed scope of work and contract, but will allow you to quickly estimate what a rehab will cost so you can make an offer on the spot.
You will see:
- Actual numbers
- Sample photos of what we are discussing
Our first half of this discussion will include exterior repairs and mechanical systems with Nick Aalerud. Interior and sizzle features with Julio Vega to follow at our October Worcester meeting.