How long should it take to get rehab estimates from a GC?

Question

I'm curious how long it takes most of you to get a rehab estimate from a GC? Is this something I should expect on the sport? In 1-2 days? In a week or more?

Account Closed · Answer

On site prices = outta sight prices! Otherwise, there's a good chance I'll be eating shoe leather and I'm not partial to the taste (I know where my boots have been).

However, I have walked other investors, looking to do their first flip, literally step-by-step, through each and every floor/room/attic of a house (and around the full exterior too) while they took notes and I'd give them a budget for each and every item identified.  It's time consuming, but in both relationship building and education, with and for those investors, time well spent.

Dunn-Edwards paints... you had me on that one as I'd not heard of it before.... looks to be a regional manufacturer out west... kind of like McCormick for us.

Robert Leach · Answer

Typically a full line item bid takes about 2 - 3 days to complete for a average rehab, I will say that if everything is coming out meaning all HVAC, Plumbing, Electrical as well, the bid may take an additional day or so. It is extremely important to have a complete understanding of specific building codes which can differ from city to city so a contractor pulling permits may need to clarify materials to be used with local building codes. Also it is important to note that there is no cookie cutter approach to quality bids. Each property is unique and it is always a good idea to have and approved finish list for your contractor highlighting specific sku numbers when available or ask for a labor only bid. The more communication on the front side of the bid will likely shorten the turn around time.

Daria B. · Answer

That is great that you foster the relationship in that way. From the investor-buyer end that would be something I would appreciate and most assuredly give repeat business.

I hope to find a someone like you when I get into flipping or just in need of a contractor when I buy to hold but the property needs some work.

Account Closed · Answer

Thank you Daria, I appreciate the feedback... given the dusting of snow on the ground this morning coupled with sub-teen temperatures, someone like me is thinking about moving somewhere like there!

Account Closed · Answer

Based on current workload and the project circumstances, we like to communicate to the client when they should expect to hear back from us.  It's a bit of a litmus test for a client to gauge the contractor... if the contractor misses the quote target date (and doesn't communicate otherwise in advance), it may be indicative of other things...

Daria B. · Answer

It's a little chilly for my taste at the moment. I have a long coat, scarf, and gloves IN Florida. LOL

Manolo D. · Answer

Account Closed What? No on site prices? lol. I always find funny when a new rehabber says on site, how much do you think it will cost for this..... and when you ask them, how much finish material are you planning to put? then says, Oh, I don't know, something average. lol. I have an average Dunn Edwards paint, but I don't think you want that. lol.

Hugh Ayles · Answer

@Manolo D.

When I worked as an estimator I always got a chuckle out of being asked "How much does a (fill in the blank) cost where "fill in the blank" was some type of building.

At least give me a layout, type of skin, and number of floors.

I am scared for people trying to use square foot prices for rehabs.

How long should it take to get rehab estimates from a GC?

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