Lucas Pfaff
Realtor/Investor from Philadelphia, Pennsylvania
posted over 6 years ago
Along with many others I'm sure, I read "The Book on Estimating Rehab Costs" by @J. Scott. Great book by the way so if you haven't gotten around to it, do so (it's a quick read). Since reading it I've felt like it needed a supplementary spreadsheet for easy reference and quick calculations (including entering your own numbers). I've been planning to put this together myself but haven't gotten around to it. Basically, I'm looking for an electronic version of the table that starts on page 201. In the interest of saving myself some time and working smarter not harder, has anyone already done this? replied over 6 years ago
Also, I can't seem to tag J on this post so if someone else could that would be appreciated. I'm guessing he may have already shared what I'm looking for but I missed it. Thanks. Tyrus Shivers
Investor from Jessup, Maryland
Disclosure: Purchaser
@Lucas Pfaff There is a rehab analysis spreadsheet here on BP.
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- The Book on Estimating Rehab Costs by J. Scott - 9781947200128 - Dymocks
- The Book on Estimating Rehab Costs | Home Renovation Costs – BiggerPockets Bookstore
Motivated Seller Phone Script – Here are 15 questions that I feel are essential to ask sellers when they contact you about selling their house. These are the questions that I ask each and every time I talk to a seller. Repair Estimates Rule-of-Thumb Guide – These repair estimates are given as an example. Please check with local contractors that have experience working with investors in your area to confirm estimates. Ultimate Driving for Dollars Guide – This guide shows you everything you need to know about driving for dollars including when, where, how, what to do after you drive for dollars, and what to do with the addresses you collect. House Inspection Checklist – This is a checklist for the main items that I look for when viewing a property. When I was looking at a lot of REO's, I gave this checklist to my brother-in-law to inspect houses for me and take pictures. This way he could do the leg work and I could work up an offer based on what he found and entered on this checklist, along with the pictures he took.
The Book on Estimating Rehab Costs | Home Renovation Costs – BiggerPockets Bookstore
Related: How to Renovate a House—Whether You're Renting, Flipping, or Moving In
Additionally, wholesalers with a strong understanding of the expected rehab costs can more accurately present the information to their cash buyer. Keep in mind, this article will not be the end-all-be-all explanation of how to accurately estimate rehab costs. For that, you'll want to get a copy of The Book on Estimating Rehab Costs: The Investor's Guide to Defining Your Renovation Plan, Building Your Budget, and Knowing Exactly How Much It All Costs by expert real estate investor and flipper J Scott. The Simple 6-Step Process to Estimating Rehab Costs
Here it is: the "magic" process that any experienced home flipper should follow. Estimating renovation projects accurately and quickly requires following these six steps. Our methodology is simple, and won't take too much time. Before you know it, you'll be all budgeted and ready for your own successful rehab projects. 1. Understand your buyer and the neighborhood
Before you start calculating rehab costs, understand what the final product will look like.
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The Book on Estimating Rehab Costs: The Investor's Guide to Defining Your Renovation Plan, Building Your Budget, and Knowing Exactly How Much It All Costs: 2 (Fix-And-Flip): Amazon.co.uk: Scott, J: 9781947200128: Books
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Top reviews from the United States
There was a problem filtering reviews right now. Please try again later. Reviewed in the United States on May 14, 2020 Verified Purchase
One of the overwhelming parts of house flipping, for a relative rookie, is finding a property and you are under the gun to come up with a cost to rehab it that ultimately leads to your offer to the seller. That can be the moment of truth; the make or break for the whole deal. Everyone is looking for the magic bean on how to quickly estimate rehab costs, especially for short sales and foreclosures, where time can be critical. This book, unfortunately, is kind of sold as that magic bean, in my opinion, and it will get you no closer to the beanstalk, unfortunately. It surprises me how highly regarded and recommended this book is on a variety of websites. I found it to be frustrating and vague, at best. I am glad I didn't pay much for it, as I literally leafed through it like a brochure. First, if you are a contractor (which I am part-time) or someone who has dabbled in rehab work on a few houses and has a little experience (which I also have), the useful content in this book could be about 20 pages long.