First property, need some advice for rehab

[Ian Wade]

Good morning, my team recently purchased a 3 unit multi-family in Philadelphia. Initially, we planned on hiring a general contractor to do all the work required but after getting some estimates back we realized we may be able to save some (a lot) of money by subbing out all the disciplines instead. I am curious if anyone else has opinions on which of the two methods is best. Primary goals are keeping the rehab within budget and getting it completed on time. This property will likely be rented out to young people/college students, so the level of detail in the work performed is not the biggest concern.

Questions:

-Do you prefer hiring a GC as opposed to subcontractors, or vice versa?

-With budget and time in mind, which option typically works best?

I have worked with sub contractors in the past and was pleased with the final result, but have heard many horror stories that are making me iffy on that decision.

Thank you!

[Nathan A.]

If you sub out all the work yourself, you're essentially acting as your own general contractor -- meaning that's more work for you to manage and coordinate. What's the value of your time? Do you have the time to do that well?

If you're sure you do, and you've worked with subcontractors before and know generally what to expect, what you would be gaining is more control yourself, which could be helpful in keeping things on budget and on time. It could also be a good opportunity to expand your knowledge of rehabbing. My wife and I did this on a renovation on our primary residence a while back and learned a lot.