Know Your Product, Know Your NumbersDec 02, 2021
How to Analyze a Contractor's Bid on a Rehab Property (Real Numbers)
When you're rehabbing a home, you're putting hard money on the table. Putting money on the table means you need to be sure of what your costs will be.
If you make a bad buy right up front, you will not recoup that loss. If you over rehab a house, you will not always get that investment back. One of the absolute biggest mistakes made in this game is over-rehabbing a property. You never want the McMansion of the neighborhood (those are tough to sell).
In this video, we break down what we plan to do with our latest acquisition. We will go over the bid from the actual contractor and how we negotiated things and weighed our options.
We'd love for you to comment on the video your thoughts and how you would handle the rehab based on what you have seen in the past walkthrough video.
If you weren't able to watch the walkthrough video, you can visit our YouTube channel here and check that out!
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Part 2 of a rehab instructional series on how to flip a house start to finish.
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Ever wonder what it truly costs to rehab a house?
Maybe you’ve thought about rehabbing a house, but you can’t find the money, or maybe you’ve secured a home and can’t fund the deal and need other options.
This video will take you through a recent home we have under contract to rehab.
We walk the home, investigate the contractor's bid and break down the exit strategies and options we have on this property. We hope you find this video informative, conversational and thought provoking.
00:00 - Exterior costs
03:19 - Interior costs
07:15 - Misc. items
08:18 - Mr. Murphy
10:10 - What's next?
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