I am chomping at the bit to start wholesaling homes, but estimating the work is holding me back. How does everyone learn how to do this. PLEASE give me some ideas
Do you have your buyers lined up?
What are you trying to estimate?
If your trying to estimate property repairs have a decent contractor take a look at a couple of properties.
Look at what materials are going to be needed and price those out. Then when you meet with potential wholesale buyers, you can give them the materials price list. Many of the people who I wholesale to do their own work so they really only need a materials list
Yes I do have a start of a buyers list. I did take an estimator out woth the last home that I looked for, but it had some fire damage. Not sure if that is a good one to look at for my first deal. Is estimating rocket science or do you just take a look around and notice the fix ups that would get someone in the house and go to home Depoat and find the costs? How bad do the windows…roof…fixtures have to be to replace them? What about the heating unit…water heater. How do you know they work? Do you just figure that into the cost? The Roof… If there is no visable damage and there is no leaks. Is it ok?
Get 3 estimates and take the middle estimate as your guide.