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Updated about 2 years ago on . Most recent reply

User Stats

393
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116
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Alain Perez-Majul
  • Investor
  • Indianapolis, IN
116
Votes |
393
Posts

Rule of Thumb for how long a rehab should take

Alain Perez-Majul
  • Investor
  • Indianapolis, IN
Posted

I've worked with a GC on a handful of projects now, but I am definitely still new to doing rehabs (both small and big), and given my inexperience, I don't have the best grasp on the expectation for how long a project should take. In my personal experience, a couple of my projects have been completed in what "felt" like a reasonable amount of time given the scope, while others definitely went on for way too long (frankly, I wasn't on top of my GC as much as I should've been, and therein has been yet another learning lesson). 

As a result of not a good idea of what a fair expectation is when it comes to how long a project should take, I struggle with implementing that accountability with my GC. I was hoping I could get some feedback on this- is there a general rule of thumb regarding knowing how long a project should take? I was told by another GC I know that you can expect $1,000 of work to be completed a day... so if a bid is $50k, the project will take 50 days. But, I have no prior construction background or experience and thus lack frame of reference.

Any feedback would be greatly appreciated! Whether a basic "rule of thumb" or exactly how to understand and determine how long a rehab should take to set expectation with a general contractor, anything helps :)

Cheers

Most Popular Reply

User Stats

393
Posts
116
Votes
Alain Perez-Majul
  • Investor
  • Indianapolis, IN
116
Votes |
393
Posts
Alain Perez-Majul
  • Investor
  • Indianapolis, IN
Replied

@Jaron Walling appreciate the feedback!

Yeah, I completely understand that there are those nuances and factors. So perhaps the smartest way to go about it is putting together a scope of work, having 3 GC's bid out the project, and ask them how long they expect the project to take in order to get a general idea? Because at the end of the day, 2-6 months is quite the range, and perhaps a project should take 2 months and you're told 5. 

Perhaps it IS simple a matter of experience and learning as you go.

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