Contractors will suggest the most expensive makeovers. How do you know which are necessary and which aren't? How do you know if you can get a cheaper window frame or cheaper floors, or if the money you spend on the window frame is even worth you awhile? Maybe the money you're going to spend is higher than what you get in return, won't raise property value enough to justify the investment.
Contractor · Scottsdale, AZ · Member since 2010 · 2k+ posts · 3k+ votes
3y
Your first sentence is a very weird assumption, and couldn't be farther from the truth.
Contractors often will suggest the makeover or path that makes the most sense for them (and what will give the path of least resistance). But they don't intentionally suggest more expensive makeovers.
You need to find a better contractor. There are some awesome ones out there who are honest, trustworthy, and ethical.
Investor · Indianapolis, IN · Member since 2018 · 2k+ posts · 1k+ votes
3y
in regards to the cheaper window frame and doors......ask for a material + labor quote.....and ask for just labor quote on the rehab and you can then pick the different windows etc.
what I would say is familiarize yourself with rehabs and construction. Books, podcasts, youtube videos.... etc
Contractor · Scottsdale, AZ · Member since 2010 · 2k+ posts · 3k+ votes
3y
Your first sentence is a very weird assumption, and couldn't be farther from the truth.
Contractors often will suggest the makeover or path that makes the most sense for them (and what will give the path of least resistance). But they don't intentionally suggest more expensive makeovers.
You need to find a better contractor. There are some awesome ones out there who are honest, trustworthy, and ethical.
You need to define the scope of work for the contractors, get multiple itemized bids, and compare those bids & ask follow up questions. Tell your contractors if you're looking for higher end finishes or rental grade finishes. Naturally contractors want to make money and may suggest certain materials that have higher margins but it's up to you to decide if its worth it.
Whether you're flipping or doing a BRRRR, you should seek to match the type of finishes you see in the comps for your desired ARV.
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y
You either need to learn that yourself or need to be connected with someone who can give you honest advice. Contractors are not investors, they don't understand our type of budget and mindset. Learning construction is essential if you want to flip
Contractors will suggest the most expensive makeovers. How do you know which are necessary and which aren't? How do you know if you can get a cheaper window frame or cheaper floors, or if the money you spend on the window frame is even worth you awhile? Maybe the money you're going to spend is higher than what you get in return, won't raise property value enough to justify the investment.
Sir you are not anywhere near ready to do this. YOU and only you should know all the costs and what is needed, NOT the GC. They work for you, not the other way around. Connect with someone doing deals, learn then apply what you learn, do not even attempt this just yet, it will not end well. Sorry to be so direct ( I am to everyone) I tell people what they need to hear vs want,
You either need to learn that yourself or need to be connected with someone who can give you honest advice. Contractors are not investors, they don't understand our type of budget and mindset. Learning construction is essential if you want to flip
@Eliott Elias I beg to differ , most contractors I know own rentals and or flip houses . ( I am a contractor and do both ) . Contractors certainly do understand investors mindset and budget . Thats why the quality contractors generally dont work for investors .
@Galit Garsiel There are no "right prices" . There is no pricelist that all contractors agree upon . Contracting is all about making money , providing a quality finished product at the highest profit . There are no discounts to investors , we are not day laborers who work by the hour , we are business people . We provide a finished product for a price , we dont use our companies finances to fund your project . ( Thats what deposits and draws are for ) . Good contractors wont install the cheap materials , then those cheap windows fail you will blame the contractor even though its not their fault .
If you cant afford to do it right , how will you afford to do it over ?