Rehabbing a six-plex Kansas City, MO

[Jonathan A.]

My partner and i needs your advices on how we can save on our first commercial (six plex) apartment rehab construction in Kansas City, MO, Any advise?

[Lee Ripma]

Sure you can do the some of the work yourself. Saving money by doing things yourself is overrated in my opinion, there are usually pro folks that can do it much better and faster. There may be ways of doing things that will save you money or time (or both) down the line that you don't know about. I'd consider hiring a good GC for all of it and just overseeing one person. If you try to act as a general for a lot of subs at a distance you'll be wasting a lot of time and making your project drag on. Let's say you can rent each unit for 750/unit. 750*6=4500/30=150. So 150 a day in lost income EVERYDAY than you don't have them rented. You'll have a lot of the expenses when you're renovating that this income will offset. Unless you're a GC by trade, I'd let the pros handle it. A good fast reliable GC is worth a hell of a lot. I worked with a cheap guy on my first rehab and I am still plagued by his terrible work.