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Investing Strategies

Here's the Easy Way to Estimate Repairs (Without Involving a General Contractor) - Part 1

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repairHi Moguls, Lex Levinrad back again with another awesomely helpful real estate investing lesson for you.

I’ve got a 3-parter for you about estimating the costs to repair a property including the material and labor expenses. The repair estimate is a crucial component of the After Repair Value (ARV) Formula, which we discussed in my last 2 lessons.

We first learned why it’s so important to understand the After Repair Value (ARV), and then using the formula, we calculated how much to offer a seller for their property. Then in the follow-up lesson, we talked about questions to ask the seller, comps and the difference between cash sales and retail sales.

Go back and have a quick read of those lessons so you can jump right in to today’s lesson about estimating the cost of repairs, because a lot of the things we covered flow into the goods I’m about to share.

Today’s Part 1 will provide an overview of how to estimate repair costs by understanding the material…


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