Tuesday March 14th
IN PERSON NEW SMYRNA BEACH CHAPTER MEETING
The (Necessary) Art of
Estimating Repair Costs Right
with Jerry Fink
Here at the New Smyrna Beach Chapter of COREE, we meet together in person to build relationships, share ideas and resources, and learn how to be better, more prosperous from experienced colleagues who've already 'figured it out'. This month is no exception:
In any market, estimating rehab costs is an important skill.
But in a softening market, it’s a CRUCIAL one, because you don’t have rising house prices and desperate buyers to save you from a mistake.
We ALL have to have this skill if we want to make good offers and good deals: retailers, of course, but also wholesalers, rental owners, and even note buyers and private lenders have to have a keen understanding of the cost to bring their properties (or their buyer’s properties, or their security) into good condition.
At this meeting, super-experienced rental owner (as in, bought his first rental in 1986) / retailer (as in, has managed well over 200 rehabs, including a 100-unit apartment building) Jerry Fink will share:
- The steps to tackling the rehab estimation process: what to do BEFORE you make an offer, how to write to offer so you can get out of it if you’re wrong, and what to do AFTER the offer is accepted to make sure you got it right before you close
The differences between estimating costs on a rental vs. a bread-and-butter rehab vs. a move-up rehab (they can be as much as 50%, no kidding)
Why you ALWAYS assume that you, or your buyer, or your borrower, will hire professionals and pull permits, even if that’s not what you’d do
How to stay on top of rehab costs as they change, as they always do in chaotic times
Actual costs of all the major rehab categories: roofs, gutters, windows, drywall, kitchens, baths, and more…
Here’ the full agenda:
6:30-7:00 order dinner, network
7:00-7:30 Buy-Sell-Swap
7:30-9:00 Jerry Fink: How to Estimate Repair Costs Right
Register below to let us know you’re coming; our space is very limited, and we may not be able to take “at-door” registrations.