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All Forum Posts by: N/A N/A

N/A N/A has started 2 posts and replied 23 times.

Post: North Texas Anyone?

N/A N/APosted
  • Posts 23
  • Votes 1

Just wanted to stop in and introduce myself. I'm new to the site and forum. Nice place though. I live in Dallas and I rehab properties to build my capital basis, purchase rentals for cashflow and manage other investor's properties for steady income. I hope to grow the property management into a business system, but at the moment it's a self employed basis.

Glenn

You gentlemen appear very knowledgable about electrical issues, so perhaps you can help shed light on my current dilema. I'm here in Dallas, I've not had to hire an electrician on my projects up to this point, with one exception (panel upgrade). I'm taking on a new project, which will require repair/replacement of majority of the electrical wiring facilities. This property was vandalized to the extreme - most of the home runs and all 240V wires were removed. The panels and most breakers were left in place along with most sockets and switches.

My question is, what's reasonable for electrician rates and in what unit of measure (hourly, linear foot, circuit, etc)? I feel knowledgable enough to do the work myself but am worried about building/code inspection paying a surprise visit and obtaining a permit for a project of this size. That and I don't have the time, nor inclination to do it myself when the time is better spent finding other deals.
Glenn

Post: Estimating rehab cost

N/A N/APosted
  • Posts 23
  • Votes 1

Triton has good suggestions, I think. I took that path when developing skills and techniques for estimating. The more deals you do the better you'll get. It will takes some time comitment, but pace yourself. A little here, and a little there will ultimately get you to the final destination.

Here are some tips that might help. Locate material supply stores for needed items. Don't rely simply upon the mega retailers like Lowe's and HD. Go the specialty and wholesale in your area. Browse the showroom and pick out some material that you like and you can envision going into your project. Talk with the sales person and ask them "What's the typical cost for installation of this material?" Nine out of ten times, they'll have an idea. After all they specialize in selling that product. While you're doing this, TAKE NOTES, GET NAMES and CONTACT INFORMATION for both the sales person and installers they recomend. By doing this, you're killing two birds with one stone - pricing materials from local providers and learning about installation cost:wink:.

The next step is call the referals you've given and mention that Mike over at Mega Tile Mart refered you. It establishes a sense of familiarity. Arrange to meet with the contractor on site and review the work. Ask them to provide you a written estimate to include a brieg description of the work. I also recomend breaking it up into materials and labor costs so later you may be able to utilize "I'll buy materials" as a negotiating tool.

Hope that helps. Don't hesitate to send a personal message if there's any other questions you feel I might be able to help with.
Glenn