All Forum Posts by: Marcela Correa

Hi Scott,

Since shaker white cabinets continue to be incredibly popular and your doors have that squarish shape, I'd repaint them with white oil paint. Use good paint so the end product looks good. (I'm assuming the cabinets are in good shape other than the paint job.)  

You don't say anything about your target market so I may be off, but even in good shape, that laminate would scare off folks in my market. If you can afford it, replace the laminate and if you can afford more, add a backsplash to give it personality. You could do a subway tile pattern with medium size tiles--very economical and easy to install.

I'm not sure what the pseudo window above the sink is about. You could place something decorative there (glass, an adhesive, artwork) to give the viewer a sense that they are looking at or out a window. 

Good luck!

Erenik,

Like with anyone you contract for anything, you should:

-Check references or check out the sub's work in person. 

-Have a written agreement that captures your expectations, the basis for payments, and how you'll deal with conflicts, etc. There are plenty of subcontractor templates available online. If you find that you're using them more significantly, you should consider having an attorney review.

-Get other estimates so you can compare his rate

Other considerations though less so for a paint job:

Who's providing the materials? What quality of materials' are expected? Does the sub have insurance or does your insurance cover him in case anything should go wrong?

Good luck!

Hi Julia,

We went through the same thought process recently on a house we're renovating. Eventually we decided to leave the his & hers closets a blank slate and place large posters of "California Closets"-style interiors inside of each. That's how we'll show the house and we're still deciding the cost side of it. Most likely we'll offer a $X credit for the closets for full-price offers. 

We're reducing our speculating and giving the buyer an opportunity to get the WOW that they most want.

If the GC specializes in underpinning basements then there's nothing shady in his suggestion to you. That also explains the good price. But if you're not underpinning then you need to get more intel to determine whether the expense is worthwhile to you. Neighbors will be your best bet...or previous owners if you have any way of contacting them.

Hi Kyle,

I'm a GC in Washington, DC and have not done work in Baltimore. Unless the entire city is sitting below water level or in a pit that causes heavy flooding (I've heard of neither in the news) I don't see why install a french drain across the board. Baltimore GCs may have more insight than I do but it sounds like a cookie cutter solution to increase the cost of the rehab. 

Or maybe the GC has been asked to do it by other investors because it was a minimal cost for a feature that they can market later.

I'd recommend you knock on the next door neighbors' doors and ask whether they've experienced flooding and whether they have french drains and/or sump pumps.

As for the cost, it depends on whether you're excavating the basement for other reasons. If you're not, the price is decent. If you are, then you could try to negotiate down.

Good luck!

Hi Tristan,

I'm a GC and I do not base my pricing on who the person is whatsoever. We are an all referral business so I'm always concerned that my prices be comparable across jobs if they're of the same quality just in case my clients ever compare prices. 

We don't do work for flippers (other than ourselves) because when we first started we prepared quotes for a couple of flippers and they wanted to squeeze our margins to nothing. The only way I could make sense of their push back is to think that they wanted us to scrimp on quality. I'm now a flipper so I know that doesn't describe every investor or every deal out there. But based on my experience, I would say that if a GC comes across a flipper in my area, they'd be more inclined to think that the client wants to spend LESS money than someone who is renovating their own house. 

It may be the opposite elsewhere so rather than leave it up to the imagination of the contractor, you should communicate what quality of materials you want: higher end, builder grade, super cheap, etc. Then compare your bids. Getting multiple bids will also be very informative. 

Good luck with your first house!

Call it "the next level." Congratulations on all you've learned and accomplished thus far. Congratulations on wanting to take it to the next level and knowing how to start. Best of luck on getting there. It sounds like growth, not a reboot!

I know it's possible to get a 203k loan for an existing property but don't know the details. FHA has good info on their website but I'd say your best source of info will be a bank. Call around to a few to find out who does 203k loans in your area.

Congrats on being bold and putting yourself out there. Maybe you could share more about your background and what you bring to the table to attract rehabbing mentors?

Good luck!

In my experience, rarely will the real estate agent know about the products used in a home and even less about contractor or investor pricing. That's why I advise you walk into houses that are under construction, not ones that are finished.

A Google search can't hurt either. Try searching for key words such as "contractor," "supplier," "wholesale," etc.