Rough ins are common when flipping older houses with outdated electrical, plumbing, HVAC, and drainage systems. While most people think that the granite countertops and new light fixtures are what drive a fix and flip budget, in reality, it’s these big system replacements that take up the bulk of a flipping budget. With all the different systems you need to replace, how do you know how much they’ll cost?
James Dainard, house-flipping expert at Heaton Dainard Real Estate, has done heavy renovations dozens of times with different home styles, ages, and material types. He walks through the eleven major costs you should account for when walking through a potential deal or a new property under contract.
Knowing general costs is good, but knowing local costs is an even better way to ensure you’re accurately calculating profit. The more houses you rehab, the better you’ll get at making quick estimates like James can!
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00:00 What is a Rough-In?
01:22 Before You Buy Your Next Deal
01:44 #1 Demo Costs
02:41 #2 Toxic Removal Costs
03:40 #3 Electrical Costs
04:54 #4 Plumbing Costs
06:27 #6 Drainage Costs
07:25 #7 Framing Costs
08:14 #8 Seismic Costs
08:58 #9 HVAC Costs
09:46 #10 Insulation Costs
10:56 #11 Siding Costs
11:33 Calculating Your Local Costs
12:28 2 Questions to Ask Contractors
14:15 Property Walkthrough