Real Estate: Estimating Repair Costs
50mBeginner2020-10-28
Authors
WealthFit
An e-learning company focused on financial education
Madecraft
Full-Service Learning Content Company
Course details
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.
Skills covered
Small Business FinanceSmall Business and EntrepreneurshipFinance and AccountingOne-Off
Concepts
0. Introduction
- 01 - Repairing your properties
- 02 - Overview of estimating repair costs
1. Outline on Repair Cost Analysis
- 03 - The purpose of repair estimates
- 04 - How to use a repair estimator
2. The Exterior
- 05 - Identifying the curb appeal of your home and surrounding homes
- 06 - Repair or replace the roof of your home
- 07 - Scaling your budget for exterior fixes
- 08 - Assessing the masonry and paint repairs
- 09 - Pricing for new windows or repairing old ones
- 10 - Looking at the garage details
- 11 - Landscaping needs and where you should not spend
- 12 - Deck and pergola replacements and repairs
- 13 - Dealing with pools and septics
3. The Interior
- 14 - Enhancing the home using painting
- 15 - Working with flooring
- 16 - Pricing your kitchen for your market
- 17 - Updating bathrooms using size and contract work
- 18 - How changes to the structure of the home or walls can be priced
- 19 - Picking doors and trim work that fits the size of your home
- 20 - Working with foundations and basements
4. Mechanics
- 21 - Updating HVAC systems
- 22 - Accurately budget for plumbing and electrical
- 23 - Identifying costs to host demolition and price dumpsters
- 24 - What permits you need to excel
- 25 - How to not skimp and save when budgeting for staging
Conclusion
- 26 - Next steps in estimating your repair costs