Repair Estimate Worksheet

by  Mike Jacka  on  Sunday, January 02, 2011

It has been a couple of months since I have been able to post anything on the blog. I have been rather busy lately as we have made a lot of changes around the office, and I was working on a new project that I finished just before the holidays. Hopefully I will be able to post more frequently now that things are starting to settle down a little bit again.

In December at out Monthly MnREIA Meeting, we had a great panel of REO agents. And we had one of our largest attendances in a long time, we usually have between 125-160 people at all our meetings, but December brought in 181 for the REO Panel. If you missed the meeting, the audio archive is available for MnREIA Members at

The biggest project I have been working on though is a Rehab Estimate Worksheet. The worksheet is designed to allow anyone, regardless of your level of experience to easily and quickly determine the estimated cost of a rehab for a property. First you have to setup some default costs/factors, which will be easy enough to determine the defaults, because it shows you the state/local and national averages, and with one click of a button, you can set your defaults to either the local or national average defaults. You can then come back and adjust each individual item as time goes on and you get a better feel for your own individual costs/factors. 

Once your defaults are setup, you will then be able to walk through a property, click on some check boxes, enter a few quantities and then just hit the total button to calculate all the costs to rehab that particular property based on the square footage of the property and your default costs/factors. You can do all this right from your phone, as long as it has internet access. You can then pull the rehab cost worksheet up for this property back at your office from your desktop/laptop computer, enter in some comps (comparable sold properties) and the system will calculate the MAO (Maximum Allowable Offer) for you.

The Rehab Estimate Worksheet is available to REP (Real Estate Promo) Premium Members. There is a new “How To Video” that anyone can see, all you need is a basic/free REP membership to see a live demo of the Rehab Estimate Worksheet.

This is just the first part of an even larger project that we have been working on, but I will keep the second part a surprise until it is ready to go. Hope everyone has a fantastic year in 2011.

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You are so right, it is very important to work out your budget and costs before starting a home improvement project. If you do it properly, though, a home renovation is a great way to add value to your property.



your work is really nice and remarkable. i appreciate your post...

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Your website is great! This post really caught my eye when I was searching around. Thanks for sharing it.

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You are a very smart person!



Really like this website, this really helps and very useful.

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Well this is good, and very helpful. A Rehab Estimate Worksheet will really help me especially in estimating cost for a rehab property.Thank you , work would be easier now.

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Thanks for the post. I do love the way you have framed this situation. I would love to share your blog with my friends on facebook, how do I do that?

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It is good the estimated was shown here on this blog.


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