All Forum Posts by: Ryan K.

I've used paint and primer in one products a while back on a volunteer project where quality wasn't a top concern. Everyone there loved the product but I can't remember if it really met my standards.

What is everyone's opinion on this? Can you really skip the primer on new Sheetrock, and just apply two coats to get a good finish?

Unless there is significant shock to the overall financial system I don't see much of a downturn in real estate any time soon especially the next year or two. The reason is low inventory. Let me repeat that - low inventory. Especially on the more affordable end of the scale, under $200k. When is the last time inventory was this low? And construction costs are getting expensive which I believe is a factor in markets appreciating. You simply can't build anything under a certain price point.

Carpenter bees! I just had a long conversation with a co worker the other day about this topic, more and more people seem to be having issues with them in wood decks and trim boards.

I've found most times when a few pieces of hardboard need to be replaced in this part of VA its actually all the siding needs to be replaced to do it right. That stuff just doesn't hold up especially if there is deferred maintenance. I'd have a contractor take a look to get the a ball park price. might need to rip it all off and replace with vinyl.

Caleb, welcome to BP! I'm in western chesterfield now myself. I'm currently doing exactly what you are planning - a live in flip.

I agree with the above, the deals in the Richmond metro area are getting harder to come by each year. But don't let that stop you, keep working hard and something is bound to happened and pay off for you.

I just read a couple articles regarding Detroit: 

http://www.marketwatch.com/story/this-viral-tweet-...

http://www.thefiscaltimes.com/Articles/2013/07/24/...

As mentioned by previous poster Detroit doesn't represent all of Michigan, which I believe is true.

 Tavisha, yes I understand the insurance is a special situation and I'm not looking for that level of detail - I was just pointing out a prior experience. All I would like to see is the breakdown per trade or major items as you mentioned, for example "$2500 to drywall 5 rooms including ceilings". I could care less about material cost, labor rate, overhead, etc.

I've seen more than one instance where someone I knew ran into an issue with a contractor that provided only a grand-total cost. In these cases they were not happy with the work of the contractor in the middle of the project and fired them, which turned into a major mess because there was a dispute over the amount owed - neither party had much to rely on for cost of items, ect. I'd like to avoid this situation.

Thanks for all the responses. This is my primary residence which I intend to rehab, I'm already living in the house. I've dealt with individual subcontractors before and its straigtforward with the price for the work, and once i dealt with a general contractor for an insurance claim - significant storm damage - everything was obviously itemized in this instance. 

I'm getting estimates for the work on my house and the first general contractor just provided a scope with a grand total for everything, he is reputable but the price is high in my opinion and I have no clue which items are costing so much (of if he is just expensive for everything ) since he didnt break it down. I'm waiting for another general contractor to give me a price as well. If needed I'll get mosre estimates, or possibly just sub the work myself.

Curious to know how everyone is receiving contractor scope of work and pricing for rehab projects, do your contractors provide a scope of work with a lump sum total, or do they break down the items? 

For example, say you need drywall, insulation, windows, siding, minor plumbing and electrical,, etc., are your contractors providing a total cost, say $25k, or do they break it down like $2k for drywall, $2k for insulation, $4k for windows, $11k for siding, $4k for plumbing and electrical? 

Id prefer to see a breakdown for a couple reasons, first it helps me understand how much various items cost in my area so I can apply that to other potential projects. Second, if anything changes during the work or if I need to fire a contractor I have a better understanding of what is owed.

What I'm finding though is many general contractors wont provide a breakdown.

Any thoughts would be appreciated!

Laura, I'm in the Richmond area as well and have been seeing the same, the deals are scarce and I believe some are over paying and have no room for profit. There are a couple areas in the city where gentrification is taking place but you really need to know it block by block to get an idea of potential resale. A little too risky for me right now. Even buy and hold property deals are drying up. Basically it's a sellers market. If you keep looking I'm sure something will pop up for you, or if you haven't done it yet look for off market deals.