All Forum Posts by: Mario Masseroli

Hi Adam. 
this is very clear and great help. After I got the initial quotes, I prepared a detailed scope of work and sent back to the contractors to fill individual cost lines. Now, it was not as detailed as you mentioned here, but quite detailed, though. The differences are  surprising to me. Couple of examples: full new roof including sheathing was quoted 22k by one and 10k by the other. Simplest gable roof you can imagine in a 1 story house. Now, looking at the cost of materials, the 22k guy must be hiring PhDs to do the roofing.  Another clear example is siding, both quoted vinyl siding,the first guy 22k, again, the other one 12k.  And in every item, it’s like this. 15k in demo, that was the one which showed me that the first guy was ripping me off....5k for the other guy.

Now I still want to check my bias here, but to be honest looking at the house size, the cost of materials and the complexity of the job, I have difficulty justifying nothing even close to the numbers the most expensive contractor was quoting.

This was just the first bidding process I haven been, so clearly learning here. And, it was does just to estimate the amount of work before making the offer. This week, I plan to make the offer and if it goes through I will definitely improve the quality of my scope of work, for the formal bidding.

THANKS AGAIN 

Thank you for your help. It’s clear that I had it wrong

Hi,

I am entering into my first deal. I found a property and I am starting to deal with GC to bid on the project in order to prepare the offer. 3 contractor came to see the house and we went through all the work that is required. I am starting to receive the quotes, but I am struggling to get what I expected: a detail breakdown of costs. Initially the 3 of them just sent me an global number for the project, which ranges for 80k - 225-  I asked the detailed scope of work and the sent me a word document with the list of jobs required, but again no breakdown of costs, just the total number.  I insisted now on the breakdown in particular to understand how the range can be so big. On the list of the things to be done, all got it very clear and they listed the same things.

my question is: am I asking something crazy here? I thought they were supposed to provide the detail breakdown. Can you help a newbie in understanding how to proceed ?

thanks in advance for your help

@Joe Jor

Hi Joe

Thanks a lot.for you reply. I would.assume that the price you mentioned was for a flip and not retail price, right?

I had initially estimated 12k myself, so was not that far. I just can make my kind around how the contractor come to close to 200k. Took is actually the biggest individual job in that house.

I will get the detailed breakdoen hopefully today.

Hi,

I just received a new quote from another contractor and now I am even more confused. He quoted 85k, half the price of the previous contractor for the same scope of work. Is this normal? 
now, I don’t know if the cheapest one is completely unrealistic or the first one is trying to rip me off. 
This last one seems much more aligned with what I had estimated but, again, I am inexperienced.

please if anyone can chip in I will greatly appreciate it. I am starting to get a bit discouraged !

THANK YOU

Hello,

This is my first post on the forum. I have been researching quite a lot and feel ready to jump into action. I have been actively looking for details and have found a candidate house. Now here is my biggest issue. I have no experience in dealing with contractors and since this is my first deal I am lucking reference in term of cost for different jobs. 
the house I am considering is in upper Westchester county in NY. I could get the house for 200k, and comparables are on the upper 400k. The house needs quite some work. Nothing structure wise, but need new roof, new siding some framing on the basement for adding new room, wiring on the basement. New furnace, new kitchen and update 2 small bathrooms. 
it is a 3 bedroom, 2 bath with 1100sqft total. I could add 400 sq ft by finishing the basement and transform to 4 bed. I starting requesting quote from contractors. I met 3 and got quote from only one, but looks crazy expensive to me.  225K !!!

I know Westchester is an expensive area but seems really extreme to me. 

Does anyone has experience in flipping around here and can help with reference pricing for different jobs?

Also I would really appreciate if someone could recommend contractors !1

thank you very much for you help