All Forum Posts by: Darla Smith

I bought a duplex on 4 acres. The property is beautiful and I they were a gut down to dry wall we are having them rehabbed currently.

I am considering building another structure if county will permit. Just wondering what all would be involved if I wanted to turn the units into condos for 55+?

I am assuming I would need a survey and attorney? What else is involved?

Is it an expensive and/or long drawn out process. What would enable it to be 55+ without discriminating?

Thanks for any help or suggestions you can give me.

What do you estimate would be fair price to pay for an interior GUT job - leaving the dry wall in the St Louis Mo area.

Doing my first property-a duplex. Have a GC rehabbing one side. They use their own employees. They sub out very little. I am doing the other side of duplex as my own GC and hiring my own subcontractors. I am purchasing materials for both sides so those expenses will remain comparable. Wanting to compare savings in labor vs. GC headache.

Got first bid to GUT my side $3250 from my current contractor. I’m just starting with bids. Crazy question but ... What type of sub contractor do you call to guts it all? I am very green!

Thanks

I just bought my first investment property-a duplex. We want to do this full time. Using a GC on unit 1 but I am selecting and purchasing majority of materials for Unit 1.

I will be the GC on unit 2 and both will be rehabbed simultaneously. I thought this would be a good LEARNING CURVE.

Is there a good software that tracks bids, expenses/payments, warranties on appliances, etc. I want to set this up right from the beginning. I am already losing my mind with the paper trail.

Also, any other software you use for tracking scheduled maintenance, warranties, renters and all that stuff needed for the future would be very helpful.

Please HELP! I truly believe organization is they key to my sanity.

Thank you all so much. This all really helped me to understand it from the contractor's point of view. 

Or, anyone in addition to @Anthony Wick, please reply. Thanks.

@AnthonyWick  What is the normal process after a contractor gives a bid and I accept it?  When should I start paying?  

Great examples. Thanks so much for your response. 

@Bill Brandt I can put all materials on contractors acct and get her discount on top of labor day sale.

@Bill Brandt. The money is not for materials. It is for contractor. She says she needs $ down to start job to cover her employees labor. She will probably only need $10-$15k. I was just wanting to make sure I had plenty.

@Anthony Wick speaking with banker tomorrow.