Contractor in Chicago

10 Replies

@Christopher Beliveau Looking at a potential BRRRR investment in West Pullman. My friend who's a real estate agent in Chicago alerted me to this opportunity. He says it needs cosmetic work around $40k, but I want to stress test his opinion with an experienced local contractor before I pull the trigger. Have any recommendations?

@Jimmy Woodard does it require plans and permits or can you get away with not having to do that?  Anything major or just putting back together a house to make it functional?  If you are putting 40k into it I am hoping you are getting this place for 50k or under to account for the money going in and risk.  A 40k project in West Pullman will take you 90-150 days so account for your carry cost and potentially security.  Things like appliances and windows are slow to be delivered these days so account for the Covid chain supply when it comes to certain improvements.

@Jimmy Woodard - We don't do too much work in Pullman (actually we never have haha), but could help if you were looking further North.  You received good advice from @Mark Ainley everything is taking longer than expected and material prices are rising (especially lumber).

What is the full scope of work for $40k?

Originally posted by @Mark Ainley :

@Jimmy Woodard does it require plans and permits or can you get away with not having to do that?  Anything major or just putting back together a house to make it functional?  If you are putting 40k into it I am hoping you are getting this place for 50k or under to account for the money going in and risk.  A 40k project in West Pullman will take you 90-150 days so account for your carry cost and potentially security.  Things like appliances and windows are slow to be delivered these days so account for the Covid chain supply when it comes to certain improvements.

Thanks for the great advice. I might need your services on the backend for property management if we go through with this deal. Let's stay in touch!

 

@Jimmy Woodard what exactly are you looking to renovate? Single family? Multi unit? Are you doing mechanical work? Are you doing a roof? Let us know more specifically what you are doing and everyone on this thread can help guide you better. Any good contractor will be trying to avoid an out of state guy looking for a quick bid to make an investing decision as they are all super busy. Let us know what you want to do and I think the group here can help.