What is Nailed-It?
Nailed-It is designed by investors to be used as a vital cog in a profit-seeking endeavor, but Nailed-It also has incredible value to homeowners and realtors as well!
Nailed-It is a home repair calculator that enables you to quickly and accurately estimate the costs of the repairs to your home to allow you a more comprehensive understanding of where the value is in your property.
Our tool is a rehab estimation calculator that was built to function on your phone primarily, it has region-specific pricing in order to give you the most convenient and accurate rehab estimates, and it only asks you to answer basic yes/no questions and put in simple measurements.
Completely understand your next rehab project with Nailed-It!
Why would I need Nailed-It?
Have you ever been walking around a potential investment property and asked yourself how much it would cost to replace all the electrical components?
How about if you have ever been at home and wondered how much you would need to save up to remodel the kitchen how you always dreamed it?
Half of the fun of planning your next project is sucked away when you realize how little you actually understand about the project and now you need to either learn the fine points of roof construction so you know what to buy or you need to find the world’s first trust-worthy contractor!
Nailed-It is able to help you understand the costs of the home renovation projects to relieve some of the stress and confusion that these projects tend to bring with them.
What is unique about Nailed-It?
Nailed-It is the only rehab calculator that was built to function primarily on your phone. This means that you can bring the calculator with you to the property to ensure you know the total cost of the project before you even leave the house.
Nailed-It is also location specific down to the zip code, meaning that the prices you see reflected are estimates based on the prices in the location of your home!
Additionally, Nailed-It was built on the basis of simple yes/no functionality. Most online calculators ask you to enter in the estimated rehab cost when analyzing a property, which is CRAZY!!
Estimating rehab costs is difficult, and very expensive to get wrong – you need to get this estimate right in order to make a good investment. Don’t waste your time worrying about those details when Nailed-It will calculate that for you, so all you need to do is simply click a button.
How will Nailed-It help me?
Investors: Wholesalers, Landlords and Flippers all encounter rehab projects and need to be right in order to make money. In order to be confident with your numbers, use our app and we will help you grow your portfolio with profitable investments.
Homeowners: Whether looking to renovate your bathroom or you need to replace your roof, owning a home will require investments throughout the life of the house. Homeowners need to be able to understand what work they need to do and be able to quickly and easily price shop contractors. Nailed-It provides the peace of mind as to how much a project should cost.
Realtors: Closing a sale can be difficult when the potential buyers can’t picture the final cost of the decision. If a potential buyer wants to update a house or modify it to help them get the home of their dreams, Nailed-It will allow you to empower the potential home buyer to understand the entire cost of the investment.
How do I use Nailed-It?
When you get to your property, simply log in to Nailed-It and bring your phone with you as you walk through the house.
You will be able to simply check off the work that needs to be done as you see issues in the home.
Instead of using a rule of thumb, such as using average costs to estimate rehab budgets, you will be able to accurately estimate rehab costs with our simple prompts and location specific pricing models.
At the end of the walk-thru, just click “Complete Estimate” and then you will be able to see each specific line item that you chose and the total cost of each item.
You can even email this Statement of Work to yourself so you can shop the prices with contractors.
How else can I estimate rehab costs?
Without Nailed-It, novice and even experienced real estate investors usually rely on general rules of thumb. For example, based on the type of renovation that will be done (how nice you want to make it) and the current state of the house most real estate investors will use a price multiple to estimate rehab costs. Often this will look very similar to this:
Square Footage of Property: 1,800 sq. ft.
Estimated Repair Cost: $20/sq. ft.
Estimated Rehab: $36,000
Feel free to use this, we often did when we were first analyzing properties, but we found that it was often inaccurate and hard to judge.
For example, what does that $36,000 cover? Is a large part of that flooring, because you might have a flooring guy who can get you that for cheap.
Additionally, it’s difficult to determine which level of rehab project will be required and the price estimate difference is huge.
If you assume that it will be a standard flip and a small rehab, but then it turns out to be a mid-level remodel then you are spending an unanticipated additional $10/square foot, you will need to budget an additional $20,000 for a 2,000 square foot house.
There is no reason for you not to have a more comprehensive understanding of the work your property needs. It pays, literally, to Nail-It when estimating rehab costs.
Can I estimate a bathroom remodel cost?
Yes!
Nailed-It allows you to individually choose which portions of a bathroom remodel that you would like to complete OR you can choose to completely replace a bathroom and get an estimate for the work done in your area.
Can I estimate a kitchen remodel cost?
Absolutely!
Nailed-It can be used to price out the individual components of a standard kitchen remodel.
What is ARV?
ARV stands for After Repair Value.
This is the value of the home in the local real estate market after the home repairs have been completed. In other words, ARV would be the price of the home after it has been fixed up and sold.
You can use Nailed-It in order to estimate the rehab costs to make sure that the home can be sold for a profit after a rehab project.