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Updated almost 5 years ago on . Most recent reply
9 Unit Full Rehab - Upstate NY
Good Afternoon BP World,
Recently, my partner and I purchased a shell (new roof and windows), fully gutted, 8/9 unit property. Over the past 4 months the two of us have fully rehabbed and rented 3 duplexes. Now, these came out pretty good and are cash flowing. An 8/9 unit full rehab is a next level project for the two of us. Looking for a few suggestions or input on the below bullet points:
* Do you hire a general contractor to complete all of the work?
* Should we sub out different jobs to save on costs?
* How many contractors would you typically have bid on the project?
Lastly, as far as financing goes, we own the building outright. The bank we've used for 3 BRRRR's told us they would not do a construction loan for this project. Any thoughts out there on creative financing for this project?
Best Regards and Stay Safe,
Recently, my partner and I purchased a shell (new roof and windows), fully gutted, 8/9 unit property. Over the past 4 months the two of us have fully rehabbed and rented 3 duplexes. Now, these came out pretty good and are cash flowing. An 8/9 unit full rehab is a next level project for the two of us. Looking for a few suggestions or input on the below bullet points:
* Do you hire a general contractor to complete all of the work?
* Should we sub out different jobs to save on costs?
* How many contractors would you typically have bid on the project?
Lastly, as far as financing goes, we own the building outright. The bank we've used for 3 BRRRR's told us they would not do a construction loan for this project. Any thoughts out there on creative financing for this project?
Best Regards and Stay Safe,