Posted by Joe S on July 25, 2000 at 21:06:42:
Sheets is good, so is Wade Cook, the old Allen books, really any course you can learn something from. None of them will work all the time in all areas, be flexible, develop your own method over time.
Question about rehab - Posted by Fester
Posted by Fester on July 25, 2000 at 18:03:51:
I know there is a lot of investers out there that into buying junker properties and getting them rehabbed. My question is how do you learn to estimate how much it will cost to fix up a property. I know there will be different answers depending on what the property needs to have done.
To make my question a little bit simpler, how could I learn to make estimates on junkers? I certainly will not even consider buying a junker to fix it up until I know what I’m doing, and how to estimate how much it will cost to get fixed.
I do want to line up with a rehab invester sometime to sell any assignable contracts to, but I still believe that I should know how to estimate how much a junker would cost to fix.
I’m a newbie and I will do whatever it takes to get educated in real estate investing, and if I am wrong with my approach to rehabs, by all means correct me.
Fester
Re: Question about rehab - Posted by Jim Kennedy - Houston, TX
Posted by Jim Kennedy - Houston, TX on July 26, 2000 at 10:23:08:
Fester,
As always, Mr. Piper’s advice is right on target. Just thought I would let you know that the Joe Brillante’s excellent post is still active on this news group. It is part of a thread entitled “How do you estimate so fast!!” posted by Eric (IL) at 13:20:33 on 07/21/00. It will probably be archived within the next day or two. You can access the thread at:
http://www.creonline.com/wwwboard/messages/82238.html
I had the pleasure of meeting Joe at the last CREOnline convention. He certainly knows his stuff!
Best of Success!!
Jim Kennedy,
Houston, TX
Re: Question about rehab - Posted by JPiper
Posted by JPiper on July 26, 2000 at 01:21:42:
Since you’re a newbie, and since you say you’re willing to do anything to get educated, I would suggest that you start reading EVERYTHING on this website…and then start reading EVERYTHING on this newsgroup EVERYDAY.
I say this because in the last week or so you missed an excellent thread regarding estimating rehab costs. I particularly enjoyed Joe Brillante’s post. I would suggest that you search archives but I’m not sure they’re working…give it a try though.
Here’s a clue though…all rehabs costs are a function of materials and labor. You can go to Home Depot and spend some time writing down the cost of various materials. Later, you can inquire from various handymen and contractors what their costs might be to do a particular type of job. In this way you can start to develop a feel for what certain jobs should cost.
You might try buying Marshall and Swifts Home Repair and Remodel Cost Guide. The estimates within this book are high…but at least you’ll have some type of clue.
And again, read the newsgroup everyday. Next time you won’t miss that excellent thread. Perhaps if you email Joe Brillante he can reproduce that post he made.
JPiper
Re: Question about rehab - Posted by Artie
Posted by Artie on July 25, 2000 at 18:59:46:
Hey Fester.
Sounds like a course is in order my little friend. If you need to be askin all these Q & As you should seriously buy some material! I’d do Sheets personally, the guy is a gentleman, a mentor , a great salesman and most of all
"A DAM MILLIONAIRE TEN TIMES OVER!!
Most others here will suggest Sheets Too!!! He even has his own newsgroup here on this web site check it out!