All Forum Posts by: Luc Boiron

I agree with the comments saying to stain it dark. I have parquet in a rental, and it looks very nice with a darker stain to it.

For a flip, I would get rid of the parquet or stain it dark. I wouldn't put carpet though. Laminate or engineered hardwood would look much better than carpet IMHO.

@Aaron McGinnis Sorry that I would lose the chance to work with someone like you. I definitely understand how it could be frustrating if you are making excellent suggestions (based on relevant experience) and another contractor ends up just using your ideas.

@Account Closed I fully agree! I don't have any good contractors who work in this area, so I am trying to find a couple who are competent and reasonable, and would hope to use them again in the future.

When I find team members I like, I tend to keep using them. For example, I've had the same granite/quartz installer make and install countertops for the last 7 or 8 kitchens I have been involved with, and I didn't even bother getting any other quotes after the first time.

Hopefully I choose the right contractor this time, and will have a new team member to count on for my next projects.

 @Manolo D. this very useful for me. I am not looking for the cheapest price, and I am fine paying for the contractor to pick up materials for me. I plan on bring the finishes to site, and have specified which finishes I will be providing. It only makes sense that a contractor should be paid for the time they need to spend on the project, including picking up materials.

I am only asking for the labour price so I can compare apples to apples. On this job I am looking for someone who can complete the job quickly, need the minimal amount of hand-holding, and will do it at a reasonable price. I am willing to pay more to a contractor who can take care of the other two well. A one man army contractor would likely not be able to finish the job on time, so I would not be hiring one.

As for the piggy backing on ideas, I am less worried about this. This job is cosmetic, and should be about a $25,000 renovation. I know what I want done and have the construction experience to understand how it should be done.

I had not thought that specifying the quote was for labour and the materials would be picked up (or ordered) by the contractor would be a deal breaker for some. I think I will specify that they should price in what they need to for the time and inconvenience of getting materials themselves. Do you think this would help?

I'm leading up to the closing on my first flip (details on this to come later).

I'm in the process of getting quotes for the work to be done. I've gone through the property, laid out all the work I want done. I am asking for quotes on labour only, with the contractors to pick up materials and be reimbursed for them, other than specified finishes that I will select and bring to the site.

In the past, on my long term hold properties, I have scheduled many contractors to come with 30-60min windows, and waited around all done. Some show up, some call me when other contractors are there, some are very late or early. 

This time, I have decided to have multiple contractors come at the same time. This will save me time planning and waiting around, and will hopefully lead to more competent bids. (@Marc Boiron gave me this idea, though I believe it has been said on the podcasts and forums as well).

Right now, I am planning on having 3-4 contractors scheduled each at 12pm, 2pm, and 4pm on Saturday. Some will likely not show up. I posted an ad on kijiji.ca (like craigslist but more popular here), and replied to a few ads. I have already received a number of responses from contractors, and expect I will pick the best sounding ones to come quote.

I'm hoping some people with experience in this can let me know what to expect? Are contractors ever upset to see they are scheduled at the same time as others? Should I let them know I am doing this ahead of time? Anything else I should be thinking about?

Ps: If it makes any difference, this is a condo apartment.

@Claude Boiron

I don't know any insurance companies in your area, but congrats on the two closings!

Welcome! Congrats on starting your own business.

Congrats!

It sounds like you're setting yourself up for some great RE success. Keep it up!

@Jeff C. How's this project going?

I would echo Chad's remark in that you need to make sure development charges are taken into account in your soft costs. They charge per unit, so you may end up with a higher soft cost when you go with smaller units.

As for the affordable housing, it's almost a joke. Toronto (and most of Ontario) seems to consider it affordable housing when the sale price is under a certain amount. They don't care that it is expensive per sqft, only that the sale price is under a set amount. At under $200,000, these would definitely be considered affordable housing in Toronto. You don't need a subsidiary corporation to do this.

I would also check on the numbers for the sale price psf. You say $550 is average for Toronto, but I would want to get a more specific sale price per square foot for the exact location you are in. I'm sure @Claude Boiron can help you if you need it.

Good luck!

Doesn't seem to be a lot of wholesalers in Toronto.

It's pretty hard to get a good deal here, as just about anything will sell quickly on the MLS at close to full price. It is difficult to find enough of a deal to leave much meat on the bone for wholesalers, who will need to work very hard for it. Also, sellers here are conditioned to listing on the MLS, mostly with agents, and sometimes as FSBO. Not the greatest market for wholesalers, but I'm sure it can be done!

Any wholesalers have some good deals, I'm always looking.