OfflineSorry if this question is redundant but I haven't found the answer yet.
If I'm wholesaling a property to a rehabber and I have to calculate the repair costs in order to come up with an offer, how do I do that? Do I need to bring a contractor into the seller's house to give me an estimate before I make an offer, or do I guess what it will cost, make the offer, then bring in a contractor to get the actual amounts? Is there a formula based on square footage of a kitchen or bath to determine approximately what it will cost to update it, and do I need to price out materials to come up with this number?
I know there's alot of questions here so any insight on this subject is appreciated.
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Contractors....get estimates on fix/flip and just enough repairs for rental property- which ever is targeted to your BUYERs.
The buyer may want THAT contractor to do the work.
Dont give TMI - get estimates - make sure LIC/INS
Check Lowes and Home Depot - they have installation prices for the 'subs' that do work for them
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
Thanks for the great info Mike. I will go check out Lowes and Home Depot.
But can I bring a contractor into a seller's house if I don't have it under contract yet?
The seller should be informed of inspection and estimates of repairs needed for your offer, INSTEAD of 'Low Ball offers' that are usually rejected and result in insult and/or a waste of everyones time!
But can I bring a contractor into a seller's house if I don't have it under contract yet?
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools