All Forum Posts by: Preston Quinn

@Alex Mendoza

In my area I pay $4/sq ft for tile labor on the floor, and if it’s going over subfloor I pay another $1/ft for durock install for larger areas. If there is only a small floor to do we go to a rate of $400 per bathroom for the floors only. Itll still take a part of 2 days for my guy to do a small job. A lot of waiting for things to dry in tile work. A basic tile shower 3x3 cost me around $1100 to tile it, my tile guy won’t quote a shower by the sq ft. I pay $450 for a basic backsplash.

@Matt M.

The house had window units in it when I bought it. And under every window that had one, there is water damage. I’m trying to eliminate this. Just seems to me like window units are harder on the property than central hvac.

@Preston Quinn

In between the first post and the reply I talked to my hvac guy again. He suggested doing 3 splits because of the way the house is chopped up. I just realized the first post I said 2 systems and the reply I said 3 systems.

@Joseph Holliway

Thanks for taking your time to respond. This house is 1127ft. I am thinking of doing 3 12,000 btu systems. That’s enough btu for 1800-2400 ft. Hopefully it works out. I’ll keep you posted.

Thanks again

Hey guys,

Here is my situation. I have a house in a class c neighborhood. I am renovating it now. The house has updated 100amp service, and a oil furnace. I had a quote for swapping it over to a heat pump. For $4200 I can convert it. That would include new duct work, and a 2 1/2 ton unit. To do this I would also have to change my service to 200 amp. My electrician gave me a quote of $1200. So I would be at $5400 for this. I don’t want to spend that much money. So here is my other option. My hvac guy told me he could do 2 mini split systems. One down stairs and one upstairs for around $27-2800 total. And I wouldn’t have to change out my service.

Have any of you used a mini split to cool/heat an older home with multiple rooms and only 1 zone per level? I am a little hesitant about doing this.

My other option is window units which would run me about $4-500 and leave the oil furnace that is 6 years old.

Thought??

@Brendan Chetuck

In my area, I can have it done for around $4/sq ft for code. This is assuming I have an exposed crawl or basement and/or attic to fish wires. If not I have to go in before my electrician and cut the plaster or drywall out.

@Sophie Maisel

I’ve done this several times. I usually pay about $1500 and that’s with the ejector pump. That includes material, labor and pouring concrete. All roughed in. Nothing finished. I haven’t had to add a bathroom over concrete in about a year. So I’d assume the price will be higher next time I need it done.

With that being said, I have guys that I have used for quite some time and have built a solid relationship with them. They have told me they’re doing it for cost for me. With that said I would expect to pay $3000 or more. This is a nasty dirty filthy job to do. Makes a huge mess and honestly I hate doing it.

My question is this, if it’s rented for $995 now, why not just put the 20% down and keep it. Leave it alone, get a heloc on the property so you can still access the cash if needed for the “speed bumps” what’s wrong with leaving money in a deal for a safety net? Brrrr isn’t the only way to invest. Cashflow would look a lot better with 20% down. Refinance it after first turn and Reno it then  

The deals I have been offering on give me back 5-10k and give me $150-$250 per door after allowing 28% for expenses plus PITI while capturing 25-30k in equity. Several folks have warned me about these numbers also. I feel like they're borderline deals. But it's whats in my backyard. I'd rather see them before I invest out of town. I have passed on deals that don't give me at least $150/door numerous times while searching. $150/dr is my minimum number while pulling all my money back out. But I also want a significant amount of equity to go along with it. My vote is bail if this is the only way to structure the deal.

Keep in mind I Am new to buy and hold. I have flipped a couple houses and have a good reserve account built up before I even considered doing this. I wouldn’t recommend doing anything until you have good money set aside for s**t hitting the fan. 

@Jason Brown

I’m following this also. I’ve done one at a time up until now. I have 3 under contract. These will be rentals but they all need rehab.

I will say I have quickbooks that I have been using to track everything in the past. A lot to learn, but it’s been useful.

How about trying to show up on Friday at lunch time with pizza and telling them you appreciate their efforts this week. Let’s go fishing after we eat. 

I can honestly say, from being in construction pretty much my whole life that construction guys are undervalued and underpayed most of the time. I good pat on the back and an extra $100 would go further than trying to force them to be more productive. Most of these guys are from the school of hard knocks. They will not take a bunch of crap And stupid games not where I’m from anyway