All Forum Posts by: Mayer M.

@John Baker

I do believe you’ll need an architect and while $75k worked as a rehab budget two years ago it will not today. Aside from the usual questions to determine the budget like will you need new water/sewer/gas service, or a new facade, or a basement digout, out structural repairs, etc.

All material costs have increased, leading the way is lumber which cost more than double what it did a year ago, drywall is up 30%, HVAC costs are up, etc.

I suppose $75k could work if you act as the GC and squeeze every penny, but in my opinion will be difficult.

@Troy Sheets may be able to comment as he has extensive knowledge of this and is a developer as well as a GC

@Jason W.

I’m a fan of Philly. I do also have three new construction side by side duplexes that’ll be completed soon and that I’ll be looking to sell. If your interested let me know. They are located in Sharswood/Brewerytown/Girard College area. It’s definitely a growing neighborhood

@Paul Hurtubise

Absolutely not! I’d never give a deposit for a loan broker. If anything you can sign a breakup clause meaning if they do all the work and you back out you owe them a fee

@Michael Plaks

That was a good laugh 😂

@Michael Plaks

Hey Michael, can you elaborate on what you’d deem a real success? Asking to educate myself

Thanks!

@Tory Sheffer

How if their passive investors

@Greg Dickerson

I think putting a project on hold is adding risk such as the continuing rise of material costs due to inflation, supply, demand, etc. additionally you can bet that the construction interest rates will also continue to rise from this point.

Personally I see everything continuing to rise including materials and interest rates. The risk/reward pausing a project doesn’t seem to lien in favor of putting a project on hold. Am I missing something?

@Mayer M.

Bump....anyone here invest or live in the Germantown area?

@Matthew Paul

It’s my understanding also that due to the volatility in lumber prices suppliers aren’t locking in the bid until seven days prior to delivery.

GCs are having to have clients sign lumber addendums with a gmp contract

@Nathaniel J Mott

It started due to the pandemic and the fact that suppliers aren’t running at full capacity coupled with the high demand. Now we are going to deal with inflation as well. I do not believe we’ll see a decrease in cost as I’m sure suppliers/brokers are making more now than before