OfflineExperienced investors can estimate clean-up and fix-up costs in just a few minutes. But that’s a result of their experience. IF you’re new it’s going to take you longer. If you find a distressed REO that otherwise fits your needs in terms of location, tenant market, and so on calculate the costs to fix it up. You may have to call a painter, plumber, and electrician. You may have to calculate the costs of having someone come in and clean out the mess. You’ll have to calculate relanscaping costs and so forth.
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Thanks for the information and the insight. The more estimates we get, the better we will get at calculating costs for after repaired value (ARV). We can than better determine in the future what repairs or rehabs may cost us. Thanks again for the information. Believe and Achieve!
- Joe
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