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Updated about 1 year ago, 11/26/2023
Closing on 9 unit property
Hello everyone!
I am a young investor very close to closing on a 9-unit commercial property about 45 minutes outside of Boise (my first commercial property).
This is an off-market deal with 8 of the units unfinished.
All materials (flooring, trim, fridges, counters, toilets, etc.) have already been purchased.
I will need to hire contractors to finish the 8 units and do some siding work as well (new roof put in 1 year prior)
I wanted some advice on the contractor portion of the deal.
I had a guy out the other day who will charge a 15% construction management fee to oversee the full completion of all 8 units.
My question; Is it worth it to have a construction manager at this rate?
Any advice related to due diligence, rehab, or anything else would be MUCH APPRECIATED
God Bless,
-Kyle James Alexander