All Forum Posts by: Dean Powers

What city, state or county? Rural property? Love to know what this is and where it may be encountered.

Hi Uwe, Dean powers. could you be more specific. what is test related to? some dye test are for septic systems.

Hi John,

Jeramie, has some good points. City and county errors can cost you. And given your description you may be looking at the higher end. This is a great economy to negotiate prices in. CA. bids can be 20% less this year. Definately want to look at volume purchase pricing with the volume of cabs, sinks, etc. you have. Since you are not intimidated by the scope of work, you will be able to save on labor. But remember product is what drives price so, keep a sharp eye on product cost. keep us posted on how to offer goes. Best of luck. Always welcome discusion, so email me. I am curious if there is a market for consultation on projects like this. I think it would be fun to build a business around helping fellow investors get into multifamily income this way. Many are intimidated. Your thoughts??? Dean

Hello John, I am a gen. contr. from CA. and apt. investor. I like what you are doing and am attempting the same in this market. Glad to help if possible. How old are the units? You say they are 2 yrs. vacant. any info. on last replacement of fixtures? ie: WH, furnace. I think there is a good thread to your plan. In any rehab/remodel the expenses are always tied to product. So, I am wondering if you could hold down initial cost by keeping any functnal WH, Furnace, plumbing fixtures, Etc. and weed through them as you bring units on line. I have even collected from units to create ready units for income to offset expenses. If bidding your project, as a gen. I would offer a price break for the # of units. Time on job, repetetive work allows for better bids. The sq. ft. price for residental should be more. So you should do better that 25/ sq. ft. If your #'s work at that, then you should be good. That said I have not seen extent of needed repairs. If I can help, please contact me. This is what I want to do. Dean

Hello Mike. I have not had Jon's experience. I have had more trouble with low income. Locally, ( College town) landlords tie the parents to lease. co-sign. Also, we do not have the turn over problem. Rentals are hard to come by and they will keep through the summer. And in some cases they rent themselves through referals. Have good lease, tie to parents, get good deposits and document condition. I actually target small college towns for multifamily because of rental history and economic stability. Dean

Depending on the reinforcement, I have broken the slab further in to smaller slabs and grouted the joints with mortor mix and then used a simi transperant stain to color the slab. Looks great. Dean

I have seen the 12 x 12 tile approach used very well. A few will take note that there will be joints to clean, but most will just like the look. There are other products , quartz, that are a little cheaper. Dean

Hello, I am also new to the site. I had been looking for a venue to meet other RE investors, and I look forward to interacting with everyone. I am a gen. contr. from SLO, Ca. and have been focusing on multifamily. If I can be of help, feel free to contact me. Enjoy sharing information. Dean