Bought At 37,000 Sold At 190,000 What Would Be My Labor Cost
a hud foreclosed house in complete disrepair and neglect was bought for 37,000 and recently sold for 190,000. approximatly under 30,000 in materials and supplies went into the house, what would be a fair labor cost to get the home to a listed price of 210,000 and purchase offer and sale of 190,000. if any one of you wonderful people could help me out with a figure i would be greatly indebted to you. thanks[ Edited by tmesa on Date 07/17/2005 ]
I would say exactly $32, 980.45.
More than likely, the $210K sale price was determined by comparable sales.
I have never heard that rule of thumb. My plumber charges me $60 to set a toilet that cost me $127. My carpenter charges me a fair rate for his time, regardless of the cost of materials. My painter charges me about $200 per room even though two gallons of paint only cost about $30.
If you are willing to pay 4 times the cost of material,I will sell my house and move next door to you,I will even give you my next born child,send me a application.
I have run a construction company for years, generally as a very broad rule of thumb labor is 50-60% ie 32K in materials 32-40K in labor.
[addsig]
thank you for all the replies and your valuable time but some of you missed the point and thats my fault.
[ Edited by tmesa on Date 07/28/2005 ][ Edited by tmesa on Date 08/02/2005 ]
I buy for rentals so I have never staged a house, but I was searching online (yellow pages) for scaffold rentals last week and saw some listings for stores that rent furniture. Try looking online in your local yellow pages. You could also use some of your own furniture or even borrow from friends.
I was wondering about that myself all these TV shows (property ladder ect) stage the home I was thinking it may be worth while to do in one of my new construction flips. I know that a vacant house makes you think the owner may be more moviated so maybe some furnishings would appear that it is still lived in.
Would staging a house sell quicker or for more than a clean, freshly painted empty house? What are some different opinions??? I am about to that point in a rehab I almost have finished. Any help will be appreciated!!!
Perfectly furnished houses will always outsell an empty house.
Badly furnished houses will always under sell an empty house.