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Real Estate: Estimating Repair Costs

via LinkedIn Learning

Overview

Discover how to uncover issues and make better real estate investment decisions before purchasing a property.

In real estate investing, nothing can be worse than buying a property only to uncover unexpected costs. Before you sign off on a purchase, it's essential that you perform due diligence when estimating the cost of repairs. In this course, learn how to analyze all aspects of a property–from the kitchen to the HVAC system—so you won’t have to worry and stress about encountering unpleasant surprises that drain your finances and turn your investment into a flop. Learn, how investors can leverage repair estimator tools, as well as how to estimate repairs quickly and accurately. Plus, discover exactly what you need to look for while inspecting a property for repairs.This course was created by WealthFit. We are pleased to host this content in our library.

Syllabus

Introduction
  • Repairing your properties
  • Overview of estimating repair costs
1. Outline on Repair Cost Analysis
  • The purpose of repair estimates
  • How to use a repair estimator
2. The Exterior
  • Identifying the curb appeal of your home and surrounding homes
  • Repair or replace the roof of your home
  • Scaling your budget for exterior fixes
  • Assessing the masonry and paint repairs
  • Pricing for new windows or repairing old ones
  • Looking at the garage details
  • Landscaping needs and where you should not spend
  • Deck and pergola replacements and repairs
  • Dealing with pools and septics
3. The Interior
  • Enhancing the home using painting
  • Working with flooring
  • Pricing your kitchen for your market
  • Updating bathrooms using size and contract work
  • How changes to the structure of the home or walls can be priced
  • Picking doors and trim work that fits the size of your home
  • Working with foundations and basements
4. Mechanics
  • Updating HVAC systems
  • Accurately budget for plumbing and electrical
  • Identifying costs to host demolition and price dumpsters
  • What permits you need to excel
  • How to not skimp and save when budgeting for staging
Conclusion
  • Next steps in estimating your repair costs

Taught by

WealthFit

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