So here's the scenario. You want to make an offer on a piece of real estate, but you know this property needs a lot of repairs. It's a fixer-upper. But in order to make a confident offer, you actually need to know approximately how much of those repairs going to cost. So what should you do? Hire an inspector for $500 before you even make an offer on the property, or pay a contractor or have them come out there with you

and waste their time when you don't even know if the seller is going to accept your offer yet.

It's a real dilemma, especially when you add on the fact that if you're a new investor,

you might not even know how to estimate repair costs.

You don't know what things cost.

So what should you do?

That is the question I want to answer in today's episode of Ask Coach,

and we're getting started right now.

Welcome to the Ask Coach edition of the podcast. If we haven't met yet, my name is Chad

Carson. You can also call me coach. And my mission

here is to help you get out of the financial grind so you can do more of what matters.

And the Ask Coach podcast series is where I do my best to answer your burning questions about

real estate investing in personal finance. So this is a question or a dilemma that's very common

for those of us who are buying properties, whether it's for an investment or something to move into. But this particular question came from one of my students in a course

Real Estate Deal School called Stephen Kang. So thank you for your question, Stephen. And by the

way, if you're interested in having these kinds of discussions with me behind the scenes year

round, you can go check out my courses at coach carson.com forward slash courses i'll also have

a link below in the podcast or the video description so how do you solve this dilemma you do what's called

a quick and dirty repair estimate i'm going to explain five different steps so that you can do that

for yourself but i want to say at front this isn't something that is overnight going to

become very easy for you. It's something you practice, kind of like riding a bike, kind of like

doing any exercise movement. You have to feel a little awkward at first doing this. So if you're

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