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Updated about 9 years ago,
Order of Rehab- First flip, need help
Hi everyone,
I just closed on my first investment property this past Monday. I'm strongly considering managing the project myself. I received a very high bid from my contractor and that's why I'm debating running the project myself. What do you suggest is the best order of a rehab project? I want to avoid making mistakes and spending more than I should.The current contractor is charging me 10K for a new roof (it's a 1,500 SQ FT house), 4.00/ SQ FT for carpet and 4.50 sq/ft for laminate. He's also charging me 3/sq ft for paint, and 22/hr for demo. He's also including two dumpsters at 500.00 a piece.
This is a brief summary of what the property needs:
Exterior:
- remove old roof and replace with new one (Shingles/asphalt)
- Some serious landscaping (Removing plants, trimming tree branches etc)
- Partial Painting (Brick/Aluminium siding)
- New garage door
Interior:
- Install drywall in the lower level of the house (it's a split level house)
- Painting
- Demo wall between kitchen and living room to make it an open layout
- Remodel 2 bathrooms (Tiling, new countertops etc)
- Panting kitchen cabintes and install hardware, new appliances, tile, and new countertops.
- Installing carpet on the family room and basement
- Replace closet/bedroom doors and trim
- Replacing and installing outlets/switches
- New water heater
- Install laminate
The total project costs came at 67K (including an 11 % fee or 6,700 the contractor is charging me for running the project). If I were to save only 6,700 , then I would really consider hiring the contractor. But I really think he is overcharging me for labor. Any help would be greatly appreciated.