Closing on 9 unit property

[Kyle Alexander]

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 

[Jessie Dillon]

unless you have extensive experience in renovations, i would recommend using a GC. without one, you'll very likely make enough mistakes in the project management department to cost you way more than the 15%, plus you'll have invested lots of time and headaches into it that you can never get back. the tricky thing is finding a GC that you can really trust. you'll want to get lots of suggestions from people who have used GCs locally in the past, maybe even ask the building inspector for the town who they'd suggest, and make sure your written agreement is airtight. deadlines, fees for missed deadlines, payment schedule..