For a BRRR strategy, how do I accurately estimate the refurbishment costs and after-repair value (ARV) for a property I'm considering bidding on at auction, given the limited viewing time?
Quick Answer
For auction properties, quickly estimate refurb costs by noting key issues, requesting contractor quotes post-viewing, and researching local comparables for ARV. Factor in a 15-20% contingency due to limited viewing time.
About This Topic
Learn how to accurately estimate refurbishment costs and After-Repair Value (ARV) for UK auction properties with limited viewing time, including a 15-20% contingency, local comparables, and key cost drivers for BRRR strategy success.
This question is part of our Buying Your First Property category, providing expert guidance on UK property investment.
Expert Guidance from Steven Potter
Steven Potter is a UK property investment coach with a £1.5M portfolio and over 5 years of hands-on experience. He has helped over 1,000 students achieve their property investment goals through practical, ethical strategies.
Ready to Take Action?
Get personalised property investment coaching with Steven Potter's Property Freedom Framework.
Learn about the Property Freedom Framework