All Forum Posts by: Jeff C.

Being cheap might be the problem. With the unemployment rate so low, just about everyone is working right now. They are charging higher than normal prices. That is just the great economy that we are in right now. 

But, sitting on 10 properties and not doing anything is pretty crazy. 

I think every contractor has heard people talk about volume, but right now, it does not mean very much to most contractors. They already have plenty of volume and why would they charge you less when they can just go to another job and get paid more.

Over the last 15 years I have gone through probably 10 general contractors, lots of trade specific people also. They are good for a little while, then BAM, they think they should make more money because I am making some money. 

I know right now I am paying more for everything than I ever had. BUT I guess since I am buying right, I can afford to pay the higher prices and still make a little for me. 

Tough situation. Wish I could help more.

@Jeff C. I've recently stopped traveling out of state for work, and I am restarting my construction business to handle my own investments. I know a couple of GC's who handled work for me while I was traveling so I might be able to help point you in the right direction. I'd like to hear more about what type of property and how extensive a remodel you are planning on doing on each property. Some contractors are better suited to lower end properties and rehabs while I prefer extensive projects and a higher tier of renovation than most flippers. Feel free to reach out to see how I might be able to help you. At the least, I could drive by, take some photos, and check on any properties you might have.

@Jeff C.

*Crickets* from the peanut gallery on this one.  

We've spoken about this a few times, I don't think you can expect to compare Bakersfield pricing with San Antonio pricing.  Even the cost of materials is going to vary between the two locations.  No doubt I feel like you're getting an "Out of Towner" tax, but it's also a risk to the contractor and you both may need a little give and take on the first couple of projects.

Labor only, you're looking at $1 - $1.50 for flooring install weather tile or LVP.  It goes up for carpet if you use a "Carpet Installer" : $3.50 - $4.50 (ridiculous, right?).  

For doors, we usually see a charger per door.  I've seen as high as $50/door (pre-hung) installed.  Does not include trim (unless it comes with the door), and does not include door knob/lock install or paint.

For exterior paint: budget $0.75 - $1.50/sf for two colors + primer and some prep.  Add for heavy sanding and don't forget carpentry budget for siding replacement & patching.

For interior paint:  Budget $1.50+/sf for texture, prime, paint.  Extensive patching, lots of trim, and/or heavy sanding will drive this cost up as well.  

None of these prices are set in stone, just kinda a rule of I used to run numbers.  Rest assured, they only go UP from here.

I’ve been trying to find someone to buy this land I’m wholesaling in Bakersfield California. I’m located in downtown Los Angeles I’m just not sure what I’m doing wrong. The land can be turned into an R3 and it will go for around a million once properties are built on it and sold. Anyone have advice they can give me? Were asking way less than what we think it’s worth. 

ext paint 1$/sqft int 1.30

demo it yourself

LVP install and material 3$

toilet 250 sink 500 tub 1000 depending

lights etc you figure that out at HD

cabs ~ 150-200$per lin ft

counters just get granite 30$/sqft

dont do window units just spend the 5k for central

@Sanjeev Advani thank you, we are avoiding CA it isn’t very landlord friendly

@Jeff C., Velocity is an interesting subject. Take a prospect I  am looking at tomorrow.  15,000 sq feet property, with it´s own page in a Wikipedia. It´s insured at 2x of the asking price because of irreplaceable woodwork. It´s been in the same family for 140 years. After I cast missing bronze & cooper pieces, spend time and treasure updating 1880´s technology, hire craftsman to match missing stain-glass pieces  - i like that to stay in my family for the next 140 years, but i´d still like a double digit returns. So let me ask you, take a 100k, do what you do, in 12 months, after taxes and what not - what do you need to get to call it good?