Hey guys, new investor here. I know that every GC, house, and rehab will be different, but can anyone share what GCs are charging for full renos (on average)?
An example would be a 1000sq ft. house, 3/1 or 3/2, needing full rehab.
Rental Property Investor · New Braunfels, TX · Member since 2018 · 141 posts · 103 votes
4y
@Tiffani Alvarez We just finished a 100% gut to the studs rehab on a 1,464 sq ft house at right around $100/sq ft. New roof, electrical, AC, windows, plumbing, added a 2nd shower,12x20 deck off the back door, all new interior/exterior doors, tile in bathroom floors and LVT the rest of the house. That $100/sq ft doesn't include the cost of the house and lot and we didn't use a GC, I coordinated it all myself. The ballgame has changed though, we bought all of the material early this year before prices started to rise and supplies ran out. It would probably be a little higher to do the same thing starting now. I'm not sure how much a GC charges so I didn't really answer your question but I hope this info helps a little.
This is completely based on my experience. I am doing rehab for a duplex currently Foundation repair: Slab foundation in between 5k to 8k Roof: 12 - 18k flooring: 2 - 4 per sq ft including materials ( of course will be higher for higher-end material)_ kitchen cabinets and countertops installing labor: 300 to 500$ Redoing entire bathroom: labor: 800 to 1500
Feel free to PM me for any more details. Full disclosure: I am also a new investor
Rental Property Investor · New Braunfels, TX · Member since 2018 · 141 posts · 103 votes
4y
@Tiffani Alvarez We just finished a 100% gut to the studs rehab on a 1,464 sq ft house at right around $100/sq ft. New roof, electrical, AC, windows, plumbing, added a 2nd shower,12x20 deck off the back door, all new interior/exterior doors, tile in bathroom floors and LVT the rest of the house. That $100/sq ft doesn't include the cost of the house and lot and we didn't use a GC, I coordinated it all myself. The ballgame has changed though, we bought all of the material early this year before prices started to rise and supplies ran out. It would probably be a little higher to do the same thing starting now. I'm not sure how much a GC charges so I didn't really answer your question but I hope this info helps a little.
Hey @Account Closed, this was still very useful. I do have a question; when you say you coordinated all of it yourself, did you do the work with your own team?
Rental Property Investor · New Braunfels, TX · Member since 2018 · 141 posts · 103 votes
4y
@Tiffani Alvarez Yes, the team that I have put together over the years that maintain my rental properties and help me on projects like this one that we just finished. They don't work for me per se, they just do work for me as needed. I don't think I can post their contact info on this site but I am happy to share it in an email. Some will work in San Antonio but a lot are just local to New Braunfels and Sequin.
As a roofing contractor, if I need to quickly give a rough price estimate a good rule of thumb is 1/3 materials, 1/3 labor and 1/3 profit. Of course, upgrading to higher end materials/shingles will throw that component out of balance.
The low end roofers who do not carry insurance, run their business out of their truck, and use the cheapest materials are fine with only a 25% profit margin. They are also at the front of the line for the 80% of roofers that go out of business every 2-3 years.
Wholesaler, Rehabber and Landlord · San Antonio, TX · Member since 2014 · 2k+ posts · 2k+ votes
4y
I do a few rehabs every year. With the higher prices of contractors, supplies, etc. I can say that we are at about 55k for an almost full rehab. The house is 950sf. We are doing roof, windows, full electric, all plumbing above the slab, new water heater, installing new central a/c(it had window units), 70% new sheetrock, cabinets, vanities, flooring, insulation, and some framing for rotten wood under the windows, and changing out all doors. That comes out to about $60/sf. This is a house that will retail at about 160k.
@Rick Pozos this is a great point of reference for me. I really appreciate you sharing that. I had a guy quoting me $160k for a full rehab on a 1044 sq ft house. I couldn’t believe it.