Planning to begin REI- where might I find a good cost list for repairs?

Hello everyone,

I am planning on a start-up REI business in Indianapolis, IN. I had 6+ years experience in the flooring and home improvement field, including custom tile work, laminate and wood flooring, wood floor refinishing, drywall, carpet installation, and interior finish carpentry before returnoing to school for a BFA in art and design.

Fast forward and I’ve now been planning on entering the REI field to put those experiences along with my love for design to work. I’m establishing a LLC, and have considerable capital to invest, though most advice I’ve gotten indicates that the best financial decision is to leverage OPM with the capital I have, such as margin loans through banks, or personally guaranteed loans (at least to begin with).

I’ve been searching the MLS listings and favorable neighborhoods in my area that seem to be showing signs of continuing rehabilitation and increasing value, particularly in the metro area. Many of these homes of course need improvement, not all of which I am qualified or willing to undertake myself.

My question is whether anyone knows of a good comprehensive price listing for repairs to residential homes in the midwest area that I might use to create a checklist for assessing repair costs in order to evaluate purchase and value potential.

Any advice in this or other areas of REI would be greatly appreciated!

One option is to contact some local contractors and renovators and ask them for some ballpark figures. They may have some reservations about quoting prices since each job can be very different. Since you have some experience in maintenance/remodeling work, you will be in a good position to know what types of repairs are reasonable and which properties look like money pits.

There is an interesting website that offers over 600,000 price profiles on 300 different types of remodeling/repair projects. It may give you an idea. Here is the link:

Hope that helps.