All Forum Posts by: Doug W.

@Kevin Branin

My draw schedule works as follows when I am using a GC that I have worked with previously:

50% deposit due at signing
20% due after passing all rough-in inspections
20% due after passing final inspection
10% due after I declare that the entire job is complete 

I like this because I don't have to be the bad guy for parts 1-3.  

Originally posted by @Jon Holdman:

 The higher the stack the greater the pressure.  10' of water is 4.33 PSI.  30', as mentioned above, is 13 psi.  DWV pipe is not rated for pressure because DWV systems are open to the atmosphere.  That's the "vent" part.

Good point. I was assuming that the stack was Schedule 40.

Hi @Dan Robinson

I am an experienced, full-time rehabber working primarily in Alexandria. I'd be interested in discussing the project management work. I'll shoot you a PM with me email. Let's find a time to discuss it on the phone in the coming days.

Thanks

Originally posted by @Kevin Branin:

@Frank S. the replaced stack is 3 stories.  That won't allow us to perform a standing water test.  Im going to check with inspector to see if we can do an air pressure test instead.

 "That won't allow us to perform a standing water test" . <--- That doesn't make any sense. What does the height of the stack have to do with anything?

A standing water test is a pretty standard requirement to pass a concealment inspection. 

You get what you pay for. Good luck when you hire the guy to install a toilet for $50. Let us know when you need advice on fixing bathroom subfloors after a toilet leaks because it wasn't set correctly.

Originally posted by @Patrick Philip:

 Okay. And I'm not trying to pay $300 to replace a toilet. Is that fair to me? That's an actual quote I got one time.

How many quotes did you get for the work? 

Plumbers here routinely make $150/hour. Add in the cost of a toilet (Kohler toilets start out at around $120 plus tax) and the time to drive to/from the store and to/from your house.

Just because you are an "investor" doesn't mean any GC has to give you rock bottom prices. Especially if he/she has enough other work to keep them happy. 

Yes @Melissa M.. First, check with the first position lien lender and make sure that they are ok with a second lien holder on the property.

As with any lender/lendee relationship you all can decide on whether the note is secured by the property (or some other collateral) or unsecured. Again, that is up to you and your lenders to determine and decide. 

Typically I offer my gap funding partners a higher interest rate as an incentive for the added risk of taking either a 2nd position or being unsecured. In all situations I do use a promissory note.

I have had roofs cleaned by companies who do the low pressure washing w/ chemicals. I have paid about $750 for a house with a footprint of roughly 45X30'

The last one I did made it look brand new. I had several people remark about it assuming it was new.

Originally posted by @Patrick Philip:

I know they could charge an arm and a leg for something that's not even difficult. 

ROFL! I can't imagine any good or great GC wanting to work for you if that is the attitude you have about their services. 

Tips: 

1) Don't nickel and dime them. This is their job and they need to put meals on their table, too. 

2) Be fair with them. If you are an a**hole then expect the same treatment in return

3) have a VERY detailed and clear Scope of Work written up front BEFORE you ask them to bid on the work 

For $100 I would just replace the toilet and not lose any sleep over it.