Estimating Construction Cost – Actual Repair Budget Attached
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Real Construction Budget Estimate
The numbers listed below are actual repair costs for a standard bank owned single family home. My partners and I have rehabbed over 50 homes together and we have never been able to achieve the cheap rehab costs as shown on Flip This House and other quick flip home shows. I do know that our costs are in line or less expensive than what other investors pay in our area.
 Kitchen Repairs Needed!  Garage Demolition Required  Shower Rehab Needed!  Garage Demolished  Kitchen Rehabbed  Rehabbed Bathroom Duration of Rehab = 25 days
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| Rented within 1.5 months |
Cash Flow is $220 / per month with no money out of pocket
| Real Rehab Repair Budget – 1,100 sq feet, 3bd, 1bath house |
| DRAW 1 |
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| Demo Garage |
Demo garage & dispose debris |
$2,500 |
| Roof |
Overall good condition, some repairs needed |
$500 |
| Gutters |
New gutters |
$1,000 |
| Soffit & facia repairs |
Repairs |
$500 |
| Foundation/concrete |
Outside,side walkway, front walkup, garage pad |
$1,500 |
| DRAW 2 |
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| Rough Electrical |
100A breaker plus new runs |
$2,500 |
| Heating System |
New Furnace install |
$2,700 |
| Hot Water Heater |
Replace w/ 40 Gallon tank |
$700 |
| Rough Plumbing |
New plumbing throughout house |
$4,500 |
| Ext Doors |
3 steel doors |
$1,000 |
| Landscaping/cleanup |
Remove all debris, weeds, bushes, grass & remove large tree in backyard |
$500 |
| Fencing |
Erect privacy fence across backyard |
$1,500 |
| Demolition |
Gut bath, kitchen, LV, DR, carpet, basement paneling |
$3,000 |
| DRAW 3 |
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| Windows + caps |
15 new windows + 4 glass block |
$4,500 |
| Electric |
New outlets, trim, light fixtures, smoke detectors, CO |
$650 |
| Dywall/Plaster – main floor |
New drywall and/or plaster entire first floor |
$6,000 |
| Carpet/Flooring |
Carpet in bedrooms, and finish and stain hardwood floors in LV + DR |
$1,500 |
| Interior doors/hardware |
|
$900 |
| DRAW 4 |
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| Bathroom |
Concrete backboard, toilet, ceramic, pedestal sink, tub, toilet, new subfloor |
$3,500 |
| Kitchen |
New cabinets, sink, counter, vinyl floor |
$4,500 |
| Finish Trim |
Windows & floors |
$1,000 |
| Paint |
Whole house interior paint |
$1,800 |
| Exterior Porch Repairs |
Front & Rear Porch repairs – structural & stair repairs |
$1,600 |
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| TOTAL |
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$48,350 |
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