How Much Does it Cost to Fix up a House?

hey is Mark Ferguson with invest four more I am standing outside one of my fix and flip properties had a lot of questions about how much it costs to repair these so in this video I'm going to go through the exterior the interior kind of give you an idea of what we estimate the cost to be on repairing everything just word of caution it's always more than I think it's going to be since I always assume that will be you know in a house like this at least five thousand dollars more in cost for little things I don't account for unknown so it's not always set in stone how much something is going to cost but hopefully can give you an idea of what we pay there's such a huge range of what contractors will charge you know based on the contractor their crew their skill level as a flipper I can't pay you know top price for a contractor I also don't want to pay bottom barrel for someone who's going to do bad work so it's kind of a middle ground refine good contractors we're affordable maybe not the absolute best but also get things done in a timely matter and of course check out investor more calm for more information on everything I'm doing to have nineteen flips going at the moment so keeps me busy just bought two more this week so this house I bought about a month ago as you can see we've had some things done on it already we had the windows replaced so on the windows it's about three hundred dollars a window installed to replace old windows with new those are jeld-wen windows from Home Depot nothing fancy you don't have to put in super fancy Andersen loi windows you know they're not that much better than what you can get at Home Depot and doesn't make sense to spend 15 grand on windows when you can spend you know a couple thousand on them so those are Windows well along with Windows you can see we had to trim out some of the exterior that's a little extra you know there's just if it's a brick house it might be extra depending on how they are you know kept it if you want to get in stock windows and you don't have the right sizes you might have to do more custom work that can all add to the cost those the windows another thing to consider those are our dumpsters we always have a lot of trash out a lot of things carpet materials sometimes people leave stuff in the house like in this house that dumpster there oh I think that's a 30-yard dumpster maybe it's a 40 cost us a four hundred to five hundred dollars for that dumpster that's delivered and for them to pick it up this siding some of you may be familiar with it when it's got kind of this curved weird texture this is asbestos siding so you will see this on houses it's not as bad as you may think it is though asbestos is dangerous if you tear it apart the dust gets in the air that's when it can cause cancer all types of other health problems if you leave it here and you don't destroy it it's fine it won't hurt you so on this house you could resize over it you could put all new siding over the top of it that would probably be all I'd say three to six thousand dollars for new siding then you'd have to come over and paint it as well to paint the exterior of this house you're probably looking at 2,000 to 2,500 depending on what condition is in you know the more prep work they have to do the more it's going to cost you but for this one what we're going to do is we have some broken pieces here you can see like that piece right there chipped up broken there's some more broken pieces over here above the window you can order these pieces of siding on line sometimes the box stores carry em they're not made of asbestos but they look exactly the same so you can take off one piece replace them and you know check with your state local guidelines but in my town as long as you're not I think it's getting rid of more than a trash can full like a 50 gallon trash can full of asbestos you'll have to have any special permits any special licenses to do it you can get rid of it so you can take off these pieces replace them as needed and you know it's going to be very affordable much cheaper than resetting the whole house we'll still paint it as you can see the paint's faded so we'll come back to repaint it but we don't need to resize the whole thing you don't need to get crazy with it you know deciding might concern a few buyers but again if you explain to them yeah it's asbestos but it won't hurt you as long as you don't disturb it it's usually going to be just fine you can see up there there's some peeling paint so if you'd all the trim painted as well one thing to be concerned about with houses that are built before 1978 is they could have LED based paint again this house is built before 1978 any contractor any painter who's doing work on a house wants to be certified well to remove lead-based paint if they're doing any household on that unless you take the paint off and have it tested and know for sure doesn't have LED based paint they need to be certified special training to remove it correctly so on older houses it can be much more expensive to paint the exterior if you've got to remove a bunch of old paint first it can double the price of painting and sometimes it's almost worth it to recite it or even stucco it then go through the the pain of peeling and then still having maybe old siding isn't in very good shape we have stuccoed a few houses as well to stucco this entire house I would guess it would cost us from all eight to twelve thousand in that range so it's usually a little more expensive to stucco and resize repaint everything alright as you can see the roof is okay but there's some shingles peeling little marginal looking to replace the roof on this house would probably cost me about four to six styles and depending on the condition it's only one layer so you can see right there there's one layer of shingles which is good the more layers you have the more expensive is code now says we can only have one layer of shingles you can't shingle on top of another layer even if there's just one we have to remove this roof put on a new one if the sheathing the plywood underneath it is in bad shape obviously replacing that cost more but there's a huge difference in roofing company prices so our company local company pretty small they're very affordable if we were to go to one of the bigger companies it does a ton of business they'd probably charge us 10 to 12 thousand for that same roof so if you really have to shop around for contractors for roofing for windows for subs there's such a big difference in what people charge you all right as you can see some of the roof here is falling in them a little bit and that's the little stuff they always don't don't always think about it adds up you know few hundred dollars here a few hundred dollars there that really adds to the budget all right in here this house was full of trash and actually our guy did not trash it out completely which is a little bit annoying so we paid him to to have to come back and fix that but that's another cost is trashing out this property if you see one of my before videos I have a video of this house when we first bought it it had stuff piled all over I think it was like eight hundred to a thousand dollar fee with the trash out done and the garage to the garage was full of stuff filled up that dumpster pretty quickly but looking at this house you know there is hardwood floors under this carpet which is nice I love hardwood I'm guessing it's going to cost Oh from a thousand to fifteen hundred to have the hardwood refinished there's a living room three bedrooms back here all with hardwood there's probably what 611 hundred square feet of hard was it needs refinished painting the interior will want to paint the entire interior that'll probably run from 1500 to 2000 dollars to do all that what to replace as you can see the trim on the windows we replace the windows you know a few hundred dollars for Grahame everywhere and the funky thing on this house this looks like drywall it's not that's paneling and you can kind of see it on the ceiling it's all these weird panels and we've got to redo the electrical in this house which means there got to cut into it tear it up a bunch of it so we might end up tearing off all this paneling putting in real drywall in after the electrical is done and some plumbing work is done so read all drywalling this entire house I'd probably say another three to five thousand dollars to do that then you've got to paint it all so that adds to the budget quite a bit replacing light fixtures we'll go through we'll replace all the light fixtures with newer stuff you know you can buy light fixtures really cheap you know you can get a fixture that's brush nickel oil rubbed bronze like that for 20 bucks at Home Depot shouldn't cost too much to install it so I figure if you put a new fans chandeliers lights everywhere you know eight hundred to a thousand dollars installed for everything doors you know we might have to replace most of these doors that one for sure probably a hundred to one hundred fifty dollars per door installed to replace all those checking out the bathroom it's actually a decent tub to bed it's so completely disgusting you know new tubs are really cheap 150 bucks place to install them which is more expensive new vanity I always and show you the toilet is pretty nasty right now probably tear out all this cheap surround stuff to redo to this bathroom doesn't have a shower so we have to put a shower you know replumb it first shower probably take 1,500 to 2,000 to you know if we do a new tub new vanity new toilet put in the shower retail everything in that price range all right we'll head over here to the kitchen we're going to read you this floor - it's really ugly really dirty a few hundred to five hundred dollars to redo all the tile and here kitchen we're going to completely blow out this kitchen redo it so we're going to move the sink over here at a dishwasher all cabinets along that row leave some cabinets over here to the new kitchen we'll get from Home Depot counters we'll get from Home Depot materials we'll probably be about 3,000 to 4,000 that includes the sink counter cabinets appliances will be another sales and installing everything you know you can get this kitchen done for probably seven thousand I'd say in that range move on back here we got more stuff that's where the hot water heater used to be hot water heater installed eight hundred dollars shouldn't be more than that they're pretty simple fairly easy to do here's the heater in newer it's in good shape we don't have to replace it which is nice we want to do some vent work because they don't have vents in the kitchen or living room but that's pretty easy to do if you had to replace this furnace um probably 2500 maybe 3,000 dollars to replace the furnace if you had to install an entire new system with vents all of that running the gas line you know assuming this house ladies had a space heater which we run see sometimes new central heating system probably six to eight thousand dollars if you want to add AC to this house this house I do not believe has air conditioning probably three thousand dollars to add air conditioning central air conditioning hook it up to it add the units all of that oh let's see what I'm missing Oh electrical and plumbing so we get an inspection done on the houses not before I buy in but actually after I buy em just to know what all needs done this house has old wiring has old galvanized plumbing so the wiring if we're rewiring the whole thing we're looking about four to five thousand dollars that's new wires new panel I think they have to redo the service outside that's a full job plumbing replacing all the piping probably another few thousand dollars three to five styles in that range my plumber is really good and cheap so I get good deal after you get all that done will pretty much have a brand-new house Alma that's why if you were going to do carpet instead of hardwoods that would probably more expensive probably a couple thousand to twenty five hundred two carpet this whole house if the hardwood was in worse shape as you patch your fillers that of course adds to the cost see here you can see the old electric panel which is pretty dated and you don't have not been keeping track of how much all this adds up to but adds up to quite a bit this job will probably be Oh thirty thousand range somewhere in there maybe some can add up all the cost I did for me and let me know but yeah it adds up there's a lot of work to do and then there will be lots of minor stuff I didn't mention as well that's all you add on so thanks for watching have a great day and of course check out investor more calm for more information

Channel: Mark Ferguson - InvestFourMore

Views: 559,043

Rating: 4.6958752 out of 5

Keywords: real estate investing, how much does it cost to fix up a house, fix and flip repair costs, how to repair a fix and flip, how to find a contractor, How to fix up a house

Id: qMQR0v9cako

Length: 14min 52sec (892 seconds)

Published: Fri Mar 17 2017