Looking for ideas to reduce rehab costs
I am looking at a 1300SF SFH. Major items include converting an office space to a full bath and walk in closet, existing bathroom renovation, new deck, add a new driveway and car port, kitchen renovation, new flooring, new windows and doors, paint, replace siding, replace roof and add some curb appeal. I have 3 estimates from four GCs for around 160K without negotiation. This is too high to justify the ARV of 350K. The asking price is 260K. I am quite interested in this property for multiple reasons , but the math isnt working. I dont see me getting the deal for less than 200K. So my question is, this is my first flip and I am wondering if I am missing something or doing too much. Use many subcontractors instead of a GC ? Get estimates only for labor and buy ALL the materials myself ? If will be more work for me which I am willing to do but is it worth the headache and risk ? Would welcome any advice.