All Forum Posts by: Adam Abdel-Hafez

Jennifer Jacobs along with what Ritch Bonisa said, what dollar amount are you looking at for the total rehab? The upfront materials are the biggest line item (cabinets, drywall, lumber, etc). Depending on the size of the rehab will depend on the draw schedule, but I typically like to do 30-30-30-10. If the rehab is less than $30k, I will typically do 33-33-33. It would have to be a very large rehab to do a lower upfront draw >$100k, in that case I do 10% upfront and the other draws vary.

Bob Okenwa I don't understand your point with the verbal quote the gc gave you. If he told you roughly $50-60k, and you came up with $63k then that seems in line with what he told you. It takes a long time to get a detailed quote together for a rehab, so I always give a verbal quote first and if that is in line with what they are thinking then I will workout the detailed quote. I am always within 10% of verbal estimate at my worst, typically I am spot on in the range I give.

I know that house, on Richland Rd. I went in there, house looks good. I'm in that area pretty much daily doing renovations in the west end, west view, Adair park, etc area. Really great area, renovation looked good.

Laminate flooring buckles/shrinks easily when it comes in contact with any water at all. If you mop the area a lot over years it will buckle/shrink. Also, tsp on walls, ceilings, etc is only really necessary for a smoke damaged house. I would just remove all of the flooring at the beginning on the rehab down to the plywood. You probably don't even have to prime it, but to be safe you can.

The mold and fungus line item worry me as well. Is there a old leak at the house? Is there mold present? If there is mold present and the home has been vacant for awhile, then you will end up removing all drywall, insulation, etc and replacing them. I would just make sure you have everything on paper and a month in to the project you don't get into a "we didn't agree to that situation" when you did discuss it verbally.

Ryan Sasscer are you including the entire scope of work on here? For what you listed, $30k is a lot. With that being said, typically for that size rehab there are a lot of other things that need to be done that would justify a $30k rehab.

Ryan Sasscer I am not sure about your area, but I would say most of this is overpriced and excessive. The framing and reconfiguring is insanely high, as the post above me stated framing can be done in a few hours. Then the move any plumbing and electrical which typically is not a big deal and then drywall. Pretty much everything but the flooring and maybe countertops seem high. But like I said I don't know your area, I just know Atlanta pricing. As previously stated, if you haven't gotten another quote then I would recommend getting a few more.

I would not do that if I were you, that does not protect you at all. Just pay them their draws and they should be fine, if not find another contractor. $130k in repairs? Did the house burn down?

Adding on to what most have stated, if the asbestos siding is not broken then I would just paint it. I have done this a few times and never had an issue with buyers or lenders. Asbestos is a good building material and will last for a long time. Now, if it's broken then you need to remove it. I have only had this professionally done once and it was right around $2k which sounds like pretty in line with the $1/sqft mark you stated.

Nick Kutschke so are they W2 employees or independent contractors? This will change a lot of how you should handle it