24 unit multifamily rehab - Construction loan / materials
I've just recently tied up a 24 unit building. The plan is purchase the property with a construction loan including rehab costs. Rehab 2 units a month and move existing tenants into newly remodeled units, rinse, wash, repeat and stabilize the building in a year and refinance after increasing annualized NOI. - Not having done this before, can you see any issues with this plan?
I've started my due diligence and getting bids from general contractors to rehab units. I'm curious if anyone has purchased materials in bulk at volume discounts for their contractors and stored them on site or at a warehouse until needed? If so, what sort of discount less than retail can be had with a 24 unit? What sort of deals be made with the big box guys?
Rehab Items:
Millwork and Doors
Counters (laminate)
Appliances (dishwasher, range, microwave, and fridge)
Cabinets
Flooring (both vinyl, laminate wood, carpet)
Thank you in advance for your feedback