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Updated 22 days ago on . Most recent reply

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Pramod Prasad
8
Votes |
13
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Contractor for minor rehab

Pramod Prasad
Posted

First time using a contractor to fix a few issues at my property before putting it in the market. Need to install a water heater, new hvac, fix/replace the front door and install new appliances. Would appreciate anyone with insights on answering these few questions. 

1. What is the typical PM fee (%) for such a job for the GC? I wont be able to manage this on my own. 

2. What questions (critical) do I need to ask the GC? 

3. Any recommendations in KC, Missouri for a reliable GC- looking for someone who can operate in 64130 area. 

Most Popular Reply

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1,517
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Nick Rutkowski
  • Rental Property Investor
  • Ithaca, NY
1,245
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1,517
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Nick Rutkowski
  • Rental Property Investor
  • Ithaca, NY
Replied

@Pramod Prasad usually I'll charge between 10% to 20% per project for my GC fee. If it's a big project closer to 10, smaller closer to 20. You're project is small so expect a 20% fee. 

You should go over with your GC - weekly updates on labor and materials spent, deadlines for each project. If you're new to this, have them explain the whole process of how they would get each job done. You'll learn a lesson or two and it helps you come up with specific questions.  Remember, people only think of lies on the surface level, if you ask a few specific questions about their process you can see if they're BSing you or not.

Get 3 quotes for the whole project and compare them together. This will help determine who is out of the park or honest and accurate. 

Last tip, look in the spots where it's hard to see what they have done. Contractors do a great job where they know you're going to look. It's the hidden spots where you can see if they have integrity or not. Its how I filter out my subs. I'll make them do it again and never hire them for the next job. 

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