Review the rehab estimator worksheet in the calculator to effectively estimate the rehab costs needed for a proper analysis.
- [Instructor] Hey, welcome back to the course. … In this lecture we're going to talk about … the rehab estimator tab. … Now this is the tab that you're going to put … in the estimates for any and all of the repairs … that you think a flip investor is going to have to make. … So basically all of the renovations … that they're going to have to make. … Now how you use this worksheet … is this is organized in such a way … where there are enough categories to pretty much … cover any property you're looking at, … any residential property that you're going to be looking at, … where you can properly account for the costs … in the correct cell. … So anything in yellow, you see these yellow … highlighted cells, that's where you actually type … in the costs. … So these are for specific rooms that you may have, … and then these are for specific areas, … the common areas or exteriors, non-rooms, … and the actual property itself. … Like kitchen, and any other kind of miscellaneous things. … And if for whatever reason you don't see …
- Name the formula used to calculate the MAO from the AVR.
- Summarize the 70% rule.
- Differentiate between the rehab estimator, ARV, and MAO calculator worksheets.
- Describe the factors in an AVR estimate.
- Cite the formulas that are helpful when pitching to a flip investor buyer.
- Explain the difference between recently sold comps and rental comps.