Estimating Rehab Costs Like a Pro 

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

"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.

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

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.

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

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.

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

This video made me clean my house

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.

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.

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

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.

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

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.

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

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!

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?

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.

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.

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

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

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

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

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!

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

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.

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

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.

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!

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!!!!

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.

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.

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

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! :)

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

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

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

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

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!

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?"

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

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

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

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

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

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.

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

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

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.

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.

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

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

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

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

Your enthusiasm is infectious....nice video.

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.

Please do more of these. This was amazingly helpful!

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

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.

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.

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.

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

This video just change my life

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

Thanks Phil I'm learning a lot from your videos

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

NEVER paint popcorn ceilings if anything scrape poporn off noboby likes popcorn ceilings why would u paint it

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.

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.

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

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

This is like watching an episode of Hoarders

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

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?

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...

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.

Hey Phil, can you do a video on Luxury Real Estate Investing. I always wondered if people invest in houses that are extremely expensive and how a real estate investor might eventually get to that point??????

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".

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

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

I've helped some extreme hoarders clean up, it is really more of a sickness. And sometimes a terminal illness that can cause very real injury or death to them and others. Especially if that person lives in a highly populated apartment complex. Their kitchens (if not the whole house) are often times fire hazards that could ignite at any minute, and destroy anything around them. It is very upsetting to see it in person. But it also demands some respect, because it is difficult habit to control as the collection of "stuff" is generally filling some personal void. I'm a VERY mild hoarder, by virtue of living in poverty with limited access to resources, let alone nice things. So I will often times "hoard" something, generally with a specific purpose or intent to use it for something, and/or to replace something that is at the end of its' life. As such, a company was scrapping a lot of electrical conduit, so I grabbed as much as I could (about 2' diameter if all bundled together) and I intend to embed them in the ground and cement (in 5 gal buckets I too collect and use a lot) and make a makeshift fence out of them at the house I rent, which I can later remove if needed. As well as other purposes, such as a green house, or roof rack, etc... Note: Where trashing that stuff might cost thousands of dollars. An investor could literally sell the stuff for just pennies, and generate a few hundred dollars that might pay the cost of scrapping everything else.

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...

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...

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

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.

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

The slide in range cost well over $1000 wholesale

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

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.

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.

I never knew all of that when it came to real estate investing on the retail side and on the renting side. And I cannot believe you're going to turn a house that belonged to hoarders into a money make. Wow! I do have one question though and maybe because of your experience you can answer it. Why do I never see or hear about any real estate investing or projects in St Louis City just a question?

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

Popcorn ceiling get the spray texture for touch ups is much easier to do folks don't paint that unless there was a smoker then you will have no other option.. re-texture if needed maybe a roller with texture and paint already in the mix then roll it on..

Thank you. This was very helpful. I want to buy a house but I don't know if I should buy an already done house with things the owner or the flipper liked or a cheaper house and upgrade it with things I like.

please do more walkthroughs like this. love the vid

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

Informative video.... Was that lighter fluid on the hot water heater?? Lol

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!

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?

I very interested to learn about investing , planing to start with a little amount of money, and involve my kids in the projects . thankyou very much.