Greetings everyone. I need some guidance. I don’t know much about doing the estimates for the repairs to give to my buyers. How can a newbie wholesaler learn how to do accurate estimates so my buyers won’t :argue Also, what online comparable sales services do any of you recommend?
Yes a newbie can learn to do repairs. Search google and you should be able to find a lot of good accurate numbers for the common repairs needed. I use MLS access for my comps but you can try realquest if you dont have MLS access
Thanks for the advice. I’m going to research Haines, Data Quick and Real Quest. I know that the comp services are only as good as the the information available to them from the court house, but I know some are better then others. I’m also going to spend some time in Lowes and Home Depot getting familiar with material prices.
When you go into Home Depot look for and purchase one or all of the books on construction cost estimating. The books are based on data from RS Means and covers the whole industry.
The books are about an inch and a quarter thick and they are about $39.95 per book.
Remodeling
Building Construction
Commercial Construction
etc, etc, etc.
When I make an offer that is accepted, I take my contractor over to the house and he gives me an estamate before I even close on the house. If his number is way higher I ammend my offer the same as I would if the inspection comes back with an unexpected problem.
thanks for the input everyone.