Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago, 02/05/2020

User Stats

45
Posts
11
Votes
Phillip Richardson
  • Rental Property Investor
  • Middletown, CT
11
Votes |
45
Posts

Elevator Installation

Phillip Richardson
  • Rental Property Investor
  • Middletown, CT
Posted
Does anyone have any experience installing elevators? I'm looking to understand the cost/benefits and whether or not it will be worth adding to a project. Thanks!

User Stats

388
Posts
62
Votes
Steve Smith
  • Beverly Hills, FL
62
Votes |
388
Posts
Steve Smith
  • Beverly Hills, FL
Replied

@Phillip Richardson

Read a post the other day on this subject it said something about adding $20,000

To your budget. Do not know if it true but I can see how it would

Make it happen

Steve

User Stats

20
Posts
1
Votes
Replied

@Steve Smith I was told by a contractor to budget 30 to 50k per floor. Not sure if this is accurate

NREIG  logo
NREIG
|
Sponsored
Customizable insurance coverage with a program that’s easy to use Add, edit, and remove properties from your account any time with no minimum-earned premiums.

User Stats

2,639
Posts
1,782
Votes
Brian Pulaski
  • Flipper/Rehabber
  • Montgomery, NY
1,782
Votes |
2,639
Posts
Brian Pulaski
  • Flipper/Rehabber
  • Montgomery, NY
Replied

Elevators have very strict rules to follow. I have been involved in new builds with them, and there is quite a bit that goes into it (regarding the structure, the machine room, etc). I have never done a retrofit, so I’m not sure how difficult that would be.

User Stats

20
Posts
1
Votes
Replied

@Brian Pulaski two quotes came in 225K Range for 4 floors lift

User Stats

2,639
Posts
1,782
Votes
Brian Pulaski
  • Flipper/Rehabber
  • Montgomery, NY
1,782
Votes |
2,639
Posts
Brian Pulaski
  • Flipper/Rehabber
  • Montgomery, NY
Replied

A couple of things I would confirm with the bids (if you can get more I always like more). Double and triple check with them regarding their machine room. I had a project many years ago where we were doing a new build and the elevator companies all confirmed the machine room was acceptable. After award and in the submittal process (no turning back as elevators have very long lead times) it came to light the machine room was too small for his equipment and the required clearances. This was a metal framed building so simply changing structural steel members (especially around the elevator shaft) was not an option. It took a LOT of work and us as the GC had to eat quite a bit of charges from their errors but we did get it figured out.

Without knowing the specifics of your project it may be fairly easy and not a massive deal. These were just some takeaways from when I was in the commercial game and had some stress filled late nights worrying about how to make the machine room work!