Dallas-Fort Worth Real Estate Investor Club

General Contractor References?

  • 23 Feb 2016 12:46 PM
    Quote
    Message # 3839504
    Matt Yancey

    I’m pretty new to REI & I have an appointment to go look at a potential fix/flip (or it would make a great rental, over by TCU) property on Friday afternoon. 

    From looking in the windows and the exterior it looks like it is going to need a pretty extensive rehab. Anyone have any good GC references that could take a look at this with me so I can get an accurate estimate of repairs needed?

    Thanks!!

    Yancey
  • 23 Feb 2016 4:46 PM
    Quote
    Reply # 3839874 on 3839504
    Robin Carriger (Administrator)

    Blake Johnson with Finishing Touches Remodeling is a great Rehabber.  You can reach him at 817-451-6565.  Please let him know I referred you.  For more info, click here.

    Thanks,

    Robin
  • 23 Feb 2016 10:05 PM
    Quote
    Reply # 3840405 on 3839504
    Matt Yancey

    Thanks Robin! I'll have to give Blake a call and see if he can squeeze me in. 

    Thanks!!
  • 24 Feb 2016 8:03 AM
    Quote
    Reply # 3841814 on 3839504
    Deleted user

    Matt,

    You might want to consider getting some basic rehab cost estimation training. Most contractors are so swamped with business that they don't have time to run out and look at potential deals with new investors (there's a huge labor shortage in construction right now). The time for an investor to call a contractor is after you have the property under contract and during the option period.

    Feel free to contact me and I'll see if I can point you to some rehab resources. I used to teach a weekend rehab course that was pretty comprehensive. I might have a copy or two of the DVDs left (if you don't mind suffering through 5 DVDs of of me talking about rehabbing / investing minutiae - :-)   ).

    -Greg

    Greg Wilson

    The REI Mentor

    G re gAT Rid gLea DO t CO )) m
  • 24 Feb 2016 9:00 AM
    Quote
    Reply # 3841923 on 3839504
    Matt Yancey

    Hi Greg,

    I really appreciate your input and I was thinking that would probably be the case & I would have to do the rehab estimate on my own.

    From the research I’ve done I’ve found that a good rule of thumb to go by is $20/sqft plus any major items that need to be repaired like, add 5K for A/C replacement, add 5K for new roof(depending on sqft), add 10K for kitchen total gut job, add 5K for each bath if needed total gut job.

    Do you think that would be good, accurate & quick way of estimating repairs?

    Thanks!

    Yancey

    817-694-2321 


    Last modified: 24 Feb 2016 2:54 PM | Robin Carriger (Administrator)
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