Estimating Rehab Costs Like a Pro

[@matt8863]

Come on Phil...You gotta estimate the length of them slacks better. Just playing with you, very informative vid.

[@karimquaintance8118]

Lol

[@mr.Kaynerobinson]

Yooo🤣🤣

[@hguerrero926]

😂😂😂

[@jazroom8411]

matt8863 screaming😂😂😂

[@powerscourt182]

Hammer time lol love ya Phil

[@csm8245]

"Forgiveness is easier than permission" I just recently found this channel but already love this guy. Also, never apologize, instead ask for hard but just punishment.

[@MrJaybugg311]

I would really love to see a the after repaired result to this property.

[@ronniesparrow7966]

Awesome video Phil. I really enjoy watching your videos because the are very informative and no BS! You shoot straight from the hip and thats what I like about you. You say things in a way where it all makes sense.

[@sallypickering6223]

I would buy this house in a nanosecond. One giant garage sale would pay for the rehab!!

[@RenTheGreat]

God I wonder how much you could get for all of that!

[@babycakes8434]

@Sally Pickering maybe if someone needs VHS tapes, moving boxes and old books, but I doubt it. I would offer it for free to save on hauling cost...

[@stephenrichard487]

Thank you Phil for the excellent tips when doing a home inspection. I'm new to real estate investing, and estimating the repair costs was one of my concerns when deciding whether a home is worth the time and effort, or if it might result in a disappointing loss of money in the long run. I'll be viewing your other helpful videos as well. Steve.

[@maggiesmiley9789]

I wish I had your videos years ago when I studied with Carlton Scheetz, Alan (whoever), and all the others. When I watch your videos, you are hands on, real life. You're simply the best.

[@MusicoSinVida]

This video made me clean my house

[@sam5miy]

Not this exact video but, same 😂😂 I came home on my lunch break after watching a hoarder house flip on another channel and I was like omg we live like animals and spent my lunch break cleaning lol

[@getmoneyhozea2722]

@@sam5miy LOL !!!

[@JCA51698]

2:30 - A fun way to announce your entrance would be to kick in the door while yelling “FBI DON’T MOVE!!!”

[@alexgordonepic]

yup.. but at least have a big mag light on you for crackhead squatters... i flipped in houston, and there were a lot of those... i'd find human poop on the floor with broken crack pipes and used needles and condoms... way nastier than the house shown here. ha

[@trompesador]

I think its give & take on these videos they're giving you enough to take to another level if you're willing to.

[@sabirabdulmateen3600]

Phil I love your approach to real estate rehabs. you make it simple and take the stress out of the process.

[@Sabrina-wn6ey]

It is like a time capsule with everything 80s and 90s. I LOVE those knobs in the kitchen and would have to keep them and use them on the new cabinets as a homage to the house's past.

[@headphones741]

this is one of your best videos you should definitely make more of these Phil ..

[@tdoug77]

Phil, this was a great video. Simple, but thorough. Like you said throughout the video, it's all on whether you are renting or selling. Having your experiences kind of makes a person feel more in "control", with a methodology for their estimate.

[@whoknew5940]

Many videos later and I'm still amazed and thankful for you sharing your knowledge. ☺

[@nedastojanovska5621]

I am learning so much from your videos and this one is PACKED with so many useful info. Thanks for the knowledge Phil and keep doing such an amazing job!

[@flatmls6183]

Estimating rehabs correctly is very important and will save you time and money. GREAT VIDEO!!!!

[@JoeCnNd]

I didn't think that house was that bad at all. I mean once you get all that junk out of there you'd be about 75 percent done.

[@XgwilosX]

House still needs a total gut job though

[@susanlaing5849]

How to get a really detailed number that's wrong. LOL. Your thought process is refreshing and I like your teaching style. I LOVED the video on 7 things NEVER to tell a contractor! Learning the hard way is a luxury; many people are sunk by bad contractors...either because they never want to deal with another one, or because they are broke with lots more work to be done, plus errors to be corrected (switched materials, unfinished jobs leading to new problems, etc.) Thank you for sharing the wisdom of your experience. I appreciate your character.

[@TotallyRadCars]

Suddenly I don't feel like my house is such a mess!

[@jenniferbrown7539]

I love seeing Hoarders. My house is empty.. lol..

[@alexroman1990]

Thank you so much, I know the video is older but it contains so much extraordinary information that sometimes we look over or forget when​ viewing a property.

[@shaiishshalom6934]

Great tour Phill lots of new knowledge! This video defiantly teaches you to see what needs to be done wheter for selling or renting. Right on!

[@gtagami1242]

Thank you for the walk-through and detail of how to estimate rehab costs. Noone else has ever showed this detail on how to do it, and for free too! You are a wonderful mentor!

[@DLHuf]

Nicely done. I like seeing you walk through the process and calling it out as you go. That's really helpful for visual people like me.

[@UltimateBargains]

First rule of walking an abandoned property: NEVER OPEN THE REFRIGERATOR!

[@zaheerjabbar7746]

I know, that is so true, cause I went to see a REO and I was forewarned not to open the the Refrig...So I ask the agent if this is some sort of tales from the Crypt with refrigerated bodies. We had a good laugh about it. But it was really dark and creepy...lol

[@JakeFosmire]

.... but i have to! Curiosity killed the cat!

[@kentharris7427]

I had my contractors take an $1,800 refrigerator out in the backyard wearing a respirator and had them clean out after having food in it for 6 weeks without power. That was the worst $200 I ever spent. Sadly it had to be thrown away, even after running an Ozone Generator inside for two hours!

[@veneno276]

UltimateBargains LOL I've learned that in a very bad way. LOL

[@brianv.5686]

...OR LIFT THE TOILET LID

[@PeterLopezRealtor_that_sells]

Love the video! That's exactly how i do it. Pen, paper, phone, ruler. Room by room, item by item...thanks for sharing

[@JohnBrown-dq1uu]

informative video, Phil. Thanks. I'd suggest also taking photos as you walk through the place to later remind you of what you observed.

[@deborahelliott8460]

Now this is smart, and can be done easy enough. I learned a great deal with this video on how to look at homes and what to do. Definitely worth my time to seek out more homes like this one. I saw a home near me that had a trashed barn that needed to be completely gutted, trashed up to the waist in trash bags, fire barrel was full, house was a double wide with the septic totally cracked, and it needed a lot of new stuff. They wanted 65K for it but with all that was wrong (to include the carpet, etc) I will wait till it comes via tax sale before paying that much.

[@Sadiyyah314]

Man..some of the BEST INFORMATION HANDS DOWN! Thank you!

[@zackh.6324]

Great job Phil.. that's right. Do what makes sense for that house and that location.

[@doglasjones7295]

I love the way you teach, you are going to make me and others a money making machine keep listing at you.Thank you for that sir.God pless you!

[@vladimirrudovsky910]

Thanks for this video and many of your others. If you went through on this house and fixed it up, do you have an after video, or after pics? Just curious how it came out? Thanks

[@bastianrivero]

Thank you so much for all this amazing lessons.. im in the caribbean right now.. 50 miles south from cancun to be exact, looking for investments over here, and your channel has had a huge inmpact on my education. thank you!!!!

[@davorkralj79]

Hello Phil, very nice video. Perhaps you have already done that but just in case you haven't I think that it would be interesting to see a similar due diligence analysis video in case of commercial real estate, like multi family homes etc.

[@davidshafer425]

agreed

[@webuycashhomes2902]

Forgiveness is easier than permission :P I love that statement.

[@Creaper89]

you're just amazing Mr.Pustejovsky.. you've made me feel.... smart? lol.. im going to get my real-estate license because of you now.. no joke.. I've watched just about every video you have... including "quit your job for real estate?"

[@MarkShort2go]

Phil, great video. I really liked the $5K block system.

[@mountain_toast]

"This floor... is awful." It really was. That had me laughing!

[@Dominique5027]

I love your channel! Even though most of your teaching is investor related (I'm a retail buyer) I have learned so much.

[@DaveEvert]

Such a nice and comfortable house. Great location, the lake view is just amazing, I mean will be when the trees and bushes ruining the view are cut down. The owner must have been a very motivated seller. That mess was just insane, good thing they finally took the time to sit down and reflect on their life and where they are going with it which landed you a great deal I guess? I hope you can clean the place and make the best out of this property. Anyways, great video as always, I really like learning about creative real estate through your videos : ) Dave

[@merymejias2416]

Thanks so much Phil for all this amazing information. All your videos are gold dust.

[@lukebambrick9453]

This video has been immensely helpful. Thank you so much for taking the time to make it! These kind of on-site videos are the especially informative. YOU SHOULD MAKE MORE OF THESE! :)

[@freedom_mentor]

+Luke Bambrick It cost around $3,000 in production fees from the camera people. That's why every video does look this good :)

[@lukebambrick9453]

+Phil Pustejovsky oh my goodness. That's crazy! I never cease to feel more indebted to you for these vids! ;) keep up the awesome work, Phil.

[@DarshanSingh-oh6sm]

Phil, You are realy great on all the topics of Real Estate. I appreciate you being so much creative.

[@josephwiiliams4126]

Phil your videos are amazing I can't stop watching them I've learned so much already i haven't brought anything yet but i feel i can make a more informed decision when i finally get to that step so thank you

[@john5823]

Woooow!!! I guess the old adage is really true~ "You don't know what you don't know." Talk about creative! You rock Phil. What did you end up doing with the property?

[@afprincess7622]

wow!!! I thought I was detailed. some of this I am familiar with but it was super HELPFUL. THANKS

[@ffdragis]

I didn't recognize you without the white board lol. great video!

[@whoknew5940]

Dragis Alfonso 🤣🤣

[@macog12]

Hi Phil, I'm a California Real Estate Broker for the past 25 years. I'm just beginning to venture into Investing and just started looking at your videos and they are very informative. I'll check out your website as well. Thankyou

[@freedom_mentor]

Being a 25 year veteran, you'll like my videos. No hype. Just the real story on how it really works.

[@MysticmarinerAK]

I could see the absolute potential of the property while going through the property. Also btw, it was very enlightening that you pointer out that determining the end game of the property, as well as the neighborhood and other factors should determine the level of quality of the materials and amount of work needed to factor in the rehab.

[@gregorycjoseph1402]

Very well done. I am a contractor that had done a lot of flipping. you are right on. Could have saved a lot of mistakes had I watched this first.

[@freedom_mentor]

Glad it could help!

[@snowleopard7952]

No sheet rock, just paint the wood wall white. The diagonal planks are classic.

[@bcstephe]

Your enthusiasm is infectious....nice video.

[@craigokins7572]

I've found that when I'm estimating rehab costs, I look up the items (windows, flooring, kitchen appliances, etc.) at one of the big box stores website, and then multiply those numbers by 3 times. It gets me close to the actual cost. For instance, say it costs $250 for a double-hung window, I would budget $750 to replace the window. 2 gallons of paint costs $70 and will paint a small bedroom, I would budget $210 to paint the room. Some projects will cost a little more, and some will cost a little less, but they will average out pretty close. It's also a good idea to add 20% for contingencies too, for unexpected costs.

[@dinelalumiere7986]

@phil. The "forgiveness is easier than permission" definitely got u my thumbs up! Hahah. I'm glad I discovered your channel.

[@christopherbraiman4929]

Hi Phil..great video! Quick question...what would you expect to pay the laborers to clear out all the junk?

[@freedom_mentor]

It took 6 dumpsters at $250 per dumpster and it spanned several days. I ended up paying about $800 in labor costs plus the cost of the dumpsters.

[@toddpatrick7695]

Thinking about trying my first flip, your help is appreciated and I did subscribe.

[@princegold1927]

Phil those pants are the devil lmfaoo...... but this was an excellent video ...

[@rckeeler]

You're videos are simply awesome. You are gifted to teach dum dums like me how to do things right. Thanks much and kind regards.

[@michaelm9621]

Very informative video. I had no idea all that work was needed to do a rehab.

[@Holthane]

Please do more of these. This was amazingly helpful!

[@richruelas]

Thanks for the great tips on how to get through this. Right now I am in the information gathering process of Real Estate investing. You provide really great, practical advice on how to and why you do things. Much appreciated.

[@chubbyzombie666]

Excellent video. I’m about to make my first offer and this helped confirm that I did the right thing.

[@moshebiletsoara4465]

Thanks Phil I'm learning a lot from your videos

[@davidsavoy5879]

Great video. I really appreciate the information. Can you share whether or not you bought this home? If so, did you flip or rent? What did you get it for and what was the repair cost and what did it sell for? Sorry for all the questions. I am just diving into learning about flipping.

[@freedom_mentor]

+david savoy I did. My purchase price is a long story because it is complicated as to what my final purchase price was after the existing liens pealed off but the renovation costs were about $30,000. This is the "after" video: kzbin.info/www/bejne/haKoo3eOacmJkLM and my net profit was a little over $62,000.

[@jackjones3657]

Cool video. Like how you walked through step by step in each room. A lot of common sense ideas. Thnks

[@mrj-charles6383]

I like that we think alike and want to get the place back in shape as cheap as possible. I am working on a rental property and was going to upgrade a bunch of things but changed my mind. New area I am not familiar with so just a touch up and clean well. If it proves profitable I will do some upgrades next year.

[@valhenry9726]

relaxing or not relaxing, mantra , I find that this helps

[@cynthiatedford6132]

I’m totally new to this, but I love your video. Very informative. Thank you so much.

[@Bhanoob]

This is like watching an episode of Hoarders

[@sergebrillon5516]

Thanks Phil ! Very educative as always

[@mohamednur7981]

Hi,Phil.my name is Mohamed nur a minnesota Realtor over a decade and i,m a green invester, i gained a lot from your video and looking forward to connecting you in the future, thanks Mohamed nur.

[@lucidmusicofficial]

This video just change my life

[@rizk162]

I love the way you explain everything. Keep up with updating. thanks

[@grandmamary622]

Thank you so much for these videos... you are very knowledgeable and don't go for the high priced stuff... I don't believe you have to have the best quality in everything, some people will change it no matter what.

[@rubyquarteybrown513]

Thank you for this video. I ave learned a lot from. I wish you will do it again.

[@shakaama]

do we get to see this property after you have REHABBED it?

[@dudaa123]

+Phil Pustejovsky Yeah it would be nice to see what you ended up doing with it. Thanks for the video.

[@mr.ocrealtor5440]

X3 on the before and after... would love to see what was done... especially the backyard... If it was me, I would have cleared the bushes and trees to see the lake and then maybe do some concrete leading to the lake and have a nice fire pit with chairs.

[@freedom_mentor]

Andrejs Duda Here is the AFTER video: kzbin.info/www/bejne/haKoo3eOacmJkLM

[@Ephraimnmh]

+Phil Pustejovsky , thank you so much for all the great info you are providing, I want to know do you NEED to get down to the property?, because I live in an expensive urban area, and I see good deals in other states like Indy, would you recommend investing in other states without walking the property?

[@beyondfossil]

Great tips. I wish I had watched a video like this when I was buying a home. I could add one tip: Bring a powerful portable 200+ watt white LED flood light to really illuminate the rooms for inspection. Such an LED light can easily be battery powered if the home has no power.

[@Holthane]

If I was buying that house I would tell my mother and grandmother to go through all that stuff and have a yard sale. They keep half and my half goes into the rehab. Just a thought.

[@babycakes8434]

@Charles are they hoarders too? I wouldn't let my father into that mess. He would keep everything ughhh I hate hoarding.

[@edcfyau]

please do more walkthroughs like this. love the vid

[@nellamccorkle2589]

Great video. Not sure if this home had a garage door but it is a good to idea to take a look at that. Also I like to check the attic for leaks, insulation (or lack thereof) and any possible rodent infestations.

[@219garry]

I got into real estate investing because of owning a dumpster rental business. Between 2008 and 2013 investors were calling me so much I became friends with them. LOL. Then I knew a TON of remodelers because they were always renting my dumpsters. Put 2 and 2 together and Voila!

[@educateyourself1411]

Phil God bless you for this free book thank you so much for sharing your knowledge

[@shodanxx]

If you buy a cheap manifold gauge (they are about 30-50$ on ebay) you can check pressures in the heat pump yourself and you'll know right away if there's a problem. Maybe just use a pen and push on the shraedder valve (like a tire valve), and if nothing comes out, then the unit needs servicing for sure.

[@DreamBattery]

Geat video Phil, thanks for sharing. going to need a few dumpster for that mess. We needed 4 dumpers for my friend Dons parents house...

[@princegold1927]

Bro u are the greatest.... u crack me up lol I love you videos man .... always realistic

[@alexgordonepic]

great points on rental vs flip. if you can get cashflow, keep it simple and quick and get tenant in asap. i like getting deposit and lease before the place is "done".

[@Architek79]

As usual Phil, great video filled with substantial knowledge. My wife and wanted to do the mentor program but the terms were too costly in the long run for our situation.

[@daleswift3180]

Hi Phil. I'm a real estate investor in Atlantic Canada for over 12 years. I really like how you explain yourself about the exciting world of investing. Quick question - Do you find any good deals on multi-units in U.S?

[@freedom_mentor]

5 years ago we did :)

[@lildee6287]

great video! i like how gave options between rental VS Flip ideas

[@PROUDBEAUTIFUL]

Yes, Thank you so much !!!! I always wanted to walk in a house like on hgtv and just start throwing numbers in the air to renovate and be roughly right lol ,😀 Great strategy and thanks again

[@ifechukwuonwuka6989]

Enjoyed this video. Great information. Cleaning the roof with bleach was an awesome unexpected golden nugget. That alone was worth the 30minutes watching. However, I was hoping to become an expert on calculating material and repair costs from watching. Any detailed videos on that?

[@freedom_mentor]

Use PropStream: kzbin.info/www/bejne/baHYfqdpfLqifqc

[@daveyboy8907]

Hello phil ,i am just getting started in flipping houses i was a contractor for 12 years so i will be doing 90 percent of the work myself..so my question is, i have heard i cannot write off my labor cost on my taxes.so if I'm flipping houses with a net profit of 20 to 35k then if i sell within a year i have to pay 25 percent capital gain tax IF AFTER A YEAR 15 PERCENT ,then the realtor fee of 6to 7 percent it doesn't seem like theres a lot of profit in it for all the work i will be coin since I'm coin the work myself.. the houses I'm looking at will be worth double what I'm paying but then you figure material, realtor fees ,taxes..if i get the house done in 2 to 3 months I'm goin to lose 10 percent to the government taxes selling before a year should i just rent these short term then sell later,, on a 30 k profit you pay realtor 6 to 7 percent 2100 then 7500 to uncle sam thats $$$ 9600 plus maybe a closing seems like a lot to pay out then only make 20 k for all that work ..so maybe i should rent these for 5 to 10 years then sell if i can afford to do it. another option is to market these myself for a few months and try to save on fees..illinois is my state of residence if that matters. thank you love your videos...

[@gwr1611]

Great information, well presented. Thank you.

[@GuitarGear1]

A few hours south of Green Bay- but, I can attest... Not many termites up here in Wisconsin :) (can't stop watching your videos!) Ty...

[@seanthewanderer1307]

Love how you explain everything in great detail. This is a beautiful property. Out of curiosity, what town and/or state was this in? I might want to move there...

[@freedom_mentor]

Ormond Beach Florida

[@seanthewanderer1307]

@@freedom_mentor Thank you Phil... It's very beautiful there!

[@gaming4good24]

l love your videos Phil. You are an awesome contributor! Thanks for your service!

[@1goblingreen404]

How do you usually handle the junk? Yard sale? Call GoodWill and say they can take whatever they can carry? Just get a dumpster? Do you ever go through it for valuable items?

[@freedom_mentor]

Call some local non-profits and once they pick it over, everything else goes in the dumpster

[@richardforbes2287]

Thanks Phil, very helpful. Any thoughts on using a head-mounted Go-Pro on an initial inspection? The idea here is to keep hands free when taking notes. Back in the office, the video can later be paused, zoomed and reviewed on your computer (with a contractor) as many times as needed. I might rethink using a Go-Pro when being shown a property by a seller as it could be a little intimidating...however, this may be a good tool to use with vacant property.

[@petercagas2031]

Very helpful tips! Thank you, Phil!

[@kimmelcollins8313]

great informative video especially for a newby! Thanks!