203(k) General Contractor Needed in Brooklyn New York City

[Richard M.]

I would really appreciate any referrals for 203(k) general contractors who operate in Brooklyn area of New York City. 

Thanks very much in advance!

Rich

[John Hickey]

@Richard M. This is when you have to get creative. That's one reason I think a HML would come in handy. Looking for contractors is indeed an art in and of itself. I think if you only look for 203k you are bound to a higher priced company. The nature of a 203K is that the contractor must float the materials and labor to specific milestones to get paid. I'm not sure which specific program but one of the 203K also hold back 10% of each milestone payment until completion. Look into streamlined I heard its a bit better.

A @Shmuel Harris Said the banker who gets the 203K will have some contacts.

I approach things from a very different angle. I GC all my own work. I have a day job and its a PIA but it gets it done at the price I need it to.

I use every ounce of influence I have to get low prices and quality that I need. But if I was asking the contractor to finance my renovation I can't really go to hard on him with pricing after all he is not only your contractor but somewhat your creditor.

Example.

 I am gut renovating and 2/1 in bedstuy right now. I moved the kitchen(10k for cabinets, appliances, and countertops) and bath 4K added a bedroom and stripped all the plaster and leveled the floors. Then reframed the whole thing 12k. Brought in all new electric 7k(moved the breaker to the apartment too), plumbing 5K and am installing new hardwoods 2k plus labor and kitchen cabinets. Central heat and Air 7K. 5K for doors paint trim and miscellaneous.The whole thing is looking about 52-55k. I might even have a 6x18 steel deck put on in the back. (7500 materials and labor plus 3k permits and inspections)

Below is a picture of  4K bathroom. Still needs a bit more work(that's as we were applying the grout) but its better than most of the bathrooms in

open houses in the area. I went to a few and they tend to use more modern stuff but the worksmanship is not so nice.

I don't bid for work in Brooklyn but I'm pretty sure it would have been 85-125 depending on the contractor. Plus there is all the red tape in dealing with the 203k!