Updated over 4 years ago on . Most recent reply
Phoenix AZ Rehab - BRRRR
Hi everyone!
I'm looking to buy a property in Phoenix from a wholesaler which will then be rehabbed, rented and refinanced. Hoping to hold for long term.
I am still in the process of building a list of contractors to use but have found that many are booked 6+ months out! Hearing that all the half decent ones will be this busy. This would definitely throw a wrench in the plan since I'm trying to get something under contract and start the 3-4 month rehab as soon as possible. I'm estimating an evg rehab cost in the 30-50k range.
Are other Phoenix investors experiencing this same things? (6 month wait to get a good contractor)
Holding a property (untouched) for 6 months seems like a rough way to start.
Any advise or feedback would be appreciated!
Most Popular Reply
@Bryan Field We have a decent remodel going in Mesa and definitely feel the squeeze. Luckily I sub out the work my own properties and have relationships built in the last decade to get my project pushed up.
If you want to list your actual list of remodel tasks, the community might be able to recommend someone(s).
However, since you do not have a shovel ready project, many contractors will not be willing to commit time to help. It's the chicken and the egg problem you are dealing with. You don't want to buy the project unless you have contractor and you can't get a contractor unless you have a project.