Hi,
I think one of the biggest problems people run into when they get into real estate investing is underestimating the cost of repairs. Contractors also don't like to go to 50 houses with an investor and give 50 bids when only one of the jobs pans out. If there was a good way of estimating repairs on a house, I would think this would be a great internet business idea.
Realtors might like it as well because they could show potential buyers what a house could look like after the buyer does some renovation. But just talking to the buyer about it is not all that effective. Buyers have very limited imaginations. So you would need to have some kind of software or website that people could play with room dimensions and then be able to scrape pricing information for materials from sites like Home Depot or Lowe's.
I know there are sites that provide the CAD programs to look at rooms and move stuff around such as Google's Sketchup: http://www.sketchup.com/3Dfor/light-...ion-remodeling or Homestyler. You can also get dimensions to plug in for a room from apps such as Magicplan.
Ikea has a website where you can do something similar and see what it will cost you for a kitchen.
I was wondering how all you real estate investors estimate repairs? Do you just do it based on experience? Do you think people would be interested in something like this? I think I would.
I think one of the biggest problems people run into when they get into real estate investing is underestimating the cost of repairs. Contractors also don't like to go to 50 houses with an investor and give 50 bids when only one of the jobs pans out. If there was a good way of estimating repairs on a house, I would think this would be a great internet business idea.
Realtors might like it as well because they could show potential buyers what a house could look like after the buyer does some renovation. But just talking to the buyer about it is not all that effective. Buyers have very limited imaginations. So you would need to have some kind of software or website that people could play with room dimensions and then be able to scrape pricing information for materials from sites like Home Depot or Lowe's.
I know there are sites that provide the CAD programs to look at rooms and move stuff around such as Google's Sketchup: http://www.sketchup.com/3Dfor/light-...ion-remodeling or Homestyler. You can also get dimensions to plug in for a room from apps such as Magicplan.
Ikea has a website where you can do something similar and see what it will cost you for a kitchen.
I was wondering how all you real estate investors estimate repairs? Do you just do it based on experience? Do you think people would be interested in something like this? I think I would.
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