Accurately determine repairs so you can make great offers!

When you’re out running appointments and making offers, It’s always better to offer too low.

You never want to offer too high and end up over budget.

We’re in business to help people, but every project we take on needs to be worth our time and it needs to make sense financially.

One of the biggest things that trips up new investors is determining the cost of repairs.

There’s a lot to learn when it comes to figuring out what all needs to be updated and what can stay the same or just be cleaned up.

As you do more and more deals you will start to memorize what everything costs and you will be able to estimate the cost of repairs pretty accurately in your head.

But a simple multiplier that me and my partner Mike have been using for years to accurately estimate rehab costs is:

Low Repairs = $15-$25 a Square Foot
Medium Repairs = $25-$35 a Square Foot
High Repairs = $40-$50 a Square Foot

The costs might vary depending on what market you’re in and these numbers will change over time as inflation keeps rising, but these are pretty accurate numbers in most U.S markets for now.

Use this multiplier when you’re out running appointments so you can make the most accurate offers you can to your sellers and go close some deals! Do not be afraid!

If you wanna go more in depth on any real estate deals you’re looking at, become a member of real estate skool so I can help you!

We get together every single week for a coaching call and I can answer any question you have over zoom with live examples. You also can get any question you have answered within the community by me and other pro investors, so you can grow your business as quickly as possible.

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