All Forum Posts by: Grayson Lynum

Hello Aimee, I'm a contractor here in northern Colorado, happy to discuss your project! To be honest, I am disinclined to take the work myself as I am quite busy, however I have done day conversions and have built tiny homes. I have looked into ADU's zoning and definitely prefabs here in NOCo. drop me a line!

I guess more of the tension is how do I account for my labor on the actual remodel? 

Could the terms look like this: 

-I bring labor and materials, and charge my base rate (for me and my guys) minus any O/P?

                * I am 100% hands on at this point so I would be onsite with tools every day. 

-Partner brings financing and walk me through the process. 

-We split profit after sale or refi.

Or is it more of a reasonable expectation that I not charge at all for my onsite time on the project?

If I had my guys and subs to all of the hands on work and I just manage then does it make sense that I would not charge for my time and just look forward to my portion at the end?

I realize it is whatever my (future) partner and I feel is fair will be what we do, but just looking for how this all worked out for you? 

Thanks again!

Hello all, 

I am a Contractor in Northern Colorado and would love to partner with a more experienced investor on a flip so I can gain experience through the process. I have brought it up with people and there is genuine interest, however I am not sure how to articulate possible terms of the agreement, think elevator pitch. 

I would bring my GC license, insurance and of course experience in remodeling to the table, and instead of contracting myself out, I would like to be more a part of the whole process and take a cut at the end instead of making a profit on the contract.

What terms have worked for you all in this situation? 

As an investor what questions or concerns would you have?

Thanks all!!

Sounds like the decision is a half dozen one way, 6 the other...

I have done work in red feather and there seems to be tons of activity, at least at the moment. 

I would do two things:

Contact a real estate agent that is very familiar with the market and ask them about the market, as is or finished. Heck, they may have a buyer in mind! Make sure you ask about what the best time of year is to sell in your area. 

Second I would get a couple bids for finishing it, don’t jerk the contractor around as we can spend many hours on a detailed bid, let us know your intentions and we can put together a “quick” estimate. (Still takes time)

 What you are looking for is data. How much to finish (take an average) how long to complete, and after finished value. That last one the realtor will help you with obviously. 

Holler at me if you have any other specific questions! 

Congrats! As a contractor I would say this: 1. Write up a scope of work, and share it with all contractors, add any items they feel need added. 2. Don't be concerned about hurting feelings, discuss differences with all bidders. 3. Exclude the evasive, shady and the hard to contact. 4. Invariably there will be 2 who you are choosing between, pick the one most trustworthy and willIng to teach. He May cost more, but the educatIon will be Invaluable.

A couple people are assuming this PM intentionally screwed you. Allow me to take another path: did you require a proper paper trail? Was this done by text or did your PM get a written estimate? Before you approve the work do you require written estimates from the subs? This protects you, and your PM from being in this specific predicament. Looking at the invoice there were no surprise retaining walls or anything, this should have been an easy estimate, and simple to get in writing. My guess? PM was as surprised as you were.

Thanks, Andrew. We actually just moved here from KCMO!

Hello Community!

Looking forward to house hacking, fix and flips and rentals in northern Colorado!

I am a sales and project manager for a local exterior remodeler and hope to give back here be making myself available to answer any roofing questions that anyone may have.

My wife three young boys and I are new to Northern Colorado, and have fallen in love with the area. I look forward to working our way into the housing market with the purpose of financial independence and producing a passive income!