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
This is the second of two parts presented by Julio E Vego