All Forum Posts by: Tucker Platt

Thank you all.  This really helps my thought process!

My business partner and I are looking to flip our first investment. I wanted to see if anyone hires a crew to demo the walls and accessories. My thought is that if I could hire a small crew they could complete the demo in a few days. 1000sqft ranch house. Removing all interior plasterboard, ceiling, insulation and kitchen/bath fixtures. 

Does anyone have experience using a demo crew? Did you pay hourly or by the job? How did you find them? And what was the approximate cost?

I am planning to dispose of the "guts" myself, I just want to avoid the actual tearing apart. We plan to do the rest of the rehab ourselves. 

Thank you for your input. 

My business partner has been around the Bigger Pockets Community for a few months.  We are considering several properties for our first investment.  One of them looks to be a complete gut job due to fire damage (fire did not break through plasterboard according to pictures).  The house is in foreclosure and we may be able to get it for a good price.

My question is if it is possible and/or wise to use an equity loan (providing we purchase the property in cash) after purchasing the property to fund the rehab.  

If the house was in good condition and livable the comps run in around $90,000.  Our estimates is that the rehab will run $25-35,000.  Having never worked with equity loans, I do not know if a lending agency would even issue an equity loan or equity line of credit on the property.

Thanks.