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Updated about 6 years ago on . Most recent reply
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Trying to finish rehab of 20 unit in oklahoma need advice
Even after months of planning, meeting with contractors, shopping for materials, etc., I still find it extremely challenging to get this project wrapped up and start renting units.
A little background...the property was built in 1972, 2 story garden style that are comprised of 12 two's and 8 ones.
I closed on the property 5/31/18, 100% vacant and in need of substantial rehab. Aside from the basic new floors, paint and drywall, all appliances, and heat and air would be replaced. Also, decided to have washer/dryer connections installed and include stackable washer/dryers. All doors and trim that were previously stained, have been painted white, the previously smooth and beat up walls are repaired and textured. Kitchen cabinets had trim, paint and nickel hardware added. New vanities, toilets, lighting, and some new and some refinished tubs.
Broke ground on the rehab around 6/15, and even though there's been a lot done there's still a lot left! I live in Florida, and have been coming to the project about 3 times a month since it started! Contractors have no sense of urgency and never have enough people working at any one time...very frustrating to manage this project from afar. I think i've finally reached my breaking point and am backing up to punt...looking for a fresh, motivated and affordable contractor to step in and stop the bleeding before i'm out of resources!
I'm meeting with my prospective management company this week to see if their in house maintenance staff is capable of finishing up everything...if so, I may just hand the keys to them.
Really would love a pep talk, lol...or to hear some others experiences if ever in my situation.
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@Trevor Gaal
Trevor,
Thanks for your words of advice and encouragement! Had a tour with my property manager today and she helped get my spirits up a bit. We're through with rough in inspections on everything and have a few finals completed. Yes, you are correct, my contract should have had included penalties if work was completed by a specified date, but one would think that since they weren't getting paid hourly that it would be in their best interest to get done and move on as quick as possible. Unfortunately I'm probably faced with hiring a new team to finish what the first guys left behind.