Dallas-Fort Worth Real Estate Investor Club

Typical Rehab Costs

  • 01 Feb 2014 4:57 PM
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    Message # 1488229
    Dawn Ratliff
    I am looking for input on what each of you typically will put into a rehab?  For instance, I would think new flooring and paint. Though interested in knowing what other items you usually update or change.

    Thanks in advance for your input!
  • 03 Feb 2014 11:33 AM
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    Reply # 1489350 on 1488229
    Deleted user
    Hi Dawn,

    The answer to your question depends on many factors. 

    First, you should survey your neighborhood (go and look at all the properties listed For Sale in the neighborhood where you property is located) to determine what is "normal" for that area. Pay particular attention to "fit and finishes."

    Then you should decide is you are going to compete on price, amenities, or quality. 

    THEN you can make an accurate assessment of the items you should repair/replace. Your list will be mostly dictated by the above, as well as the equity margin you have in the property.

    If you have more questions about rehabbing, please feel free to contact me. I'll be dealing with this issue and other related topics, as I prepare for my rehabbing class on President's Day weekend.

    Looking forward to hearing from you,

    -Greg
    (817) six-8-three. seventy100
  • 03 Feb 2014 1:22 PM
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    Reply # 1489450 on 1488229
    Dawn Ratliff
    Greg,

    Thanks for the input.  I will definitely look into those factors.  While Rehabbing is my ultimate goal, right now I am looking to wholesale some deals so I can get my feet wet and compare my thoughts to others who are already doing this. 

    Right now I am trying to make sure that the rehab that I am identifying is what others usually consider typical, though I will have to roll more into looking at neighboring properties for sale (competition) to see what they have going as well.

    I really appreciate your time in responding, I'll be watching for your rehab class!

    Sincerely,

    Dawn Ratliff
    817-913-1774
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