Find out how to accurately estimate all the costs you are likely to incur when renovating and get all your rehab questions answered in one place! In The Book on Estimating Rehab Costs, expert real estate investor and rehabber J Scott reveals his professional framework's proven steps and methodology for accurately estimating renovation costs from hundreds of his own successful rehab projects. Learn all the in-depth tips, tricks, and tactics you need to accurately budget for any home flipping or investment property renovation project.
You don't need to be a contractor to flip homes, but you do need to know the fundamentals of renovation budget and pricing, including everything from cosmetic renovations to complex installations and upgrades. Whether you're preparing to tackle your first rehab project or you're a home pinball expert, this manual will be your guide to identify renovation projects, create a scope, and stick to budget to ensure timely profit. !
Inside you will learn how:
Determine how to precisely estimate all the costs you're likely to face during renovation ― and get all of your rehab question answered in one place! In The Book On Estimating Rehab Costs, real estate investor and fixer-upper J Scott reveals the tried and tested steps of his professional framework for precisely evaluating renovation costs, from hundreds of his own profitable rehab projects. He covers everything from estimating materials and labor costs to calculating profit margins and determining the best time to buy and sell properties. You'll learn every detail you need to know about renovating houses, including tips on finding deals, negotiating contracts, and managing contractors.
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. J Scott is a real estate investor who lives in the suburbs of Washington D.C. In 2008 he and his wife decided to take a break from their corporate jobs and start a family. He wanted to do something different so he quit his job and began investing in real estate. After nine years, he has made a lot of money flipping houses and has also expanded into new construction. Today, he and his wife have bought, renovated and sold over 300 houses.
A good reference for anyone interested in learning about the framework for rehabilitation costs. Costs are broken out into 20+ major categories, with associated (and expected!) labor/materials expenses included. Definitely one I'll keep around as I get more familiar; I do hope it comes with some bonus materials, such as worksheets/checklist/etc
This book is a useful guide for anyone new to rehabilitation. Even though the updated edition has some errors and grammatical issues, it contains a lot of good information for rehabbing houses. Although the actual costs seem kind off abstract when just thinking about rehabilitation in theory, it will be a great resource to refer back to.
Coming from someone who doesn't know anything about what costs what on houses, this book is absolute gold. From knowing how to value a property, price repairs from the largest to smallest, and keeping yourself from being priced out from a contractor, this book is a must-have. If you want to get covered all your bases and keep yourself profitable, take this book anywhere.
This book is both incredibly helpful and a complete waste of time. The useful part is the list and categorization of things to evaluate and plan for when rehabbing a home. The waste is the attempts to give price ranges (with ranges that vary over 100% from low to high) without caveats all around. I do not blame the author for the variation in these prices, but rather the pretense of conveys these as something he can predict for readers in other areas of the country. Every section ends with pages of filler about various jobs that might occur in that category and how to pay for them. This would have been a 5-star book if just the list of categories were provided, along with explanations of what to evaluate and how to approach payment for each. The excess material only detracts from the book’ s usefulness.
This is a really great book for anyone who doesn’t really know anything about construction, and it helps them realize just how much they already know. It also reinforces their confidence, and it gives them an idea of how much they can accomplish if they put their mind to it. I love the final chapter, mainly because that is exactly where I needed help. Costs are the one area I struggle with in terms of rehabilitation, but SOW comes easily.