Archive for repair estimates

“We should not only use the brains we have, but all that we can borrow.”
Thomas Woodrow Wilson

Home Builder Pro Calcs AppOne of the scariest things for new – and even experienced – investors is estimating the cost of repairs on a prospective investment property. If you’re off by even a little, it can cost you thousands in profits. If you’re off by a LOT, well, instead of walking away from the closing with a check for thousands, you might be bringing money to the table.

Finding a reliable contractor is a good first step. (Hint: go to your REIA meetings and network. Ask for recommendations. Interview several.) But the best way to know that you’ve got a good estimate is to become familiar with determining what repairs are needed and how much they cost.

So where do you start? One of the best apps I’ve seen to guide you through this process is the Home Builder Pro Calcs app. (At press time, this app costs $4.99 on the App Store and can be used on the iPhone and iPad.)  Read More→

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Kimberlee Frank, the Real Estate JunkieAre you having problems getting your BPO or appraisal low enough on your short sale offers? Is the lender saying the house is worth far more than it really is and declining your reasonable short sale payoff offer? Are your short sale offers being rejected because of this? If so, you need to watch this webcast with Kimberlee Frank. On this webcast, Kimberlee talked about how to influence the BPO or appraisal and how to use repair estimates to convince the bank to accept your short sale offer. Read More→

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