Posted by Jim IL on June 05, 1999 at 01:16:20:
Chris,
You can use the book to your advantage. You can use that book as a reference for your lenders, and sellers, and your profit margin is higher, because they may just actaully believe the darned book.
As many flippers and rehabbers have said, always use high numbers for repairs, knowing full well that you can do it cheaper.
Hope this helps,
Jim IL
Marshall & Swift Home Repair and Remodel Cost Guide – 200 % high ? - Posted by chris
Posted by chris on June 05, 1999 at 01:01:50:
I just picked up a copy the other day and was amazed @ the prices ( which inludes materials & labor , ) which are national averages to be raised or lowered by a local multiplier, are sky high. For example it says to rehab a full bath ( 50 sq/ft ) will cost $3040.00 for an “economy version” . Even when affected by my local price multiplier ( .87 ) , it’s still way up there. A working class ( “economy” ) full bath rehab in my area of FL goes for around $ 1100.00. I know these guys are talking about top contractors with the big ads in the yellow pages , but still, … 3x as high? Am I reading the book wrong? … If I know what things cost in my area , why should I care what it says in some book?