Issues with Contractors

[Gianluca Carella]

Hello All,

I am working on my first flip currently. We picked up the property at 380k with and ARV estimate if 610k. We created a detailed pro forma around the job from start to finish and made sure the numbers reflected a target profit margin of 80–100k depending on soft costs.

The home has great guts but needs a complete cosmetic remodel. It’s a 2200 sq ft home sitting on a 42,000 sq ft lot. I have gotten bids from 7 contractors and I feel like they can smell my “newness”. Would anyone be willing to give me some tips on how to navigate these contractors to fit the project within my budget of 80k.

I am sort of thinking I need to scrap the idea of having a general and just quarterback the project with cheaper labor. What are your thoughts?