Episode Details
Back to Episodes
007: What Everyone Feels Uncomfortable with - Renovation Costs
Description
As a real estate investor, accurately estimating renovation costs is crucial to the success of your investment. But let's face it - estimating costs can be a daunting task. On this episode of the DealMachine Real Estate Investing Podcast, we tackle the topic of estimating renovation costs head-on.
Learn a few different strategies for tackling that estimate - from Ryan's system of estimating price per sq foot, broken up by the level of renovation required to David making sure he leaves extra room for renovation costs by making low offers using the 70 percent rule.
They also discuss the importance of experience in getting accurate estimates, with David noting that it gets easier with practice. David even breaks down a renovation budget he did on one of his previous deals and Ryan offers his thoughts on the accuracy of the estimates.
So tune in to the DealMachine Real Estate Investing Podcast for valuable insights and strategies to help you accurately estimate renovation costs and make profitable real estate investments.
David's Social: @dlecko
https://www.dealmachine.com/pod
Ryan's Social: @heritage_home_investments