Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Land & New Construction
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 7 years ago on . Most recent reply

User Stats

23
Posts
3
Votes
Luis Marcelino
  • Philadelphia, PA
3
Votes |
23
Posts

BRRR Suggestions & Questions

Luis Marcelino
  • Philadelphia, PA
Posted

Good morning all, 

How is everyone approaching the rehabbing of a property? How are you getting your contractors to price with accuracy? Are you hiring an architect? How much is that usually? 

Additionally, are there any GC suggestions in the Philadelphia area? 

I would love to pre-qualify some general contractors and architects? 

I would appreciate the input.

Most Popular Reply

User Stats

3,042
Posts
1,771
Votes
Brandon Sturgill
  • Real Estate Broker
  • Columbus, OH
1,771
Votes |
3,042
Posts
Brandon Sturgill
  • Real Estate Broker
  • Columbus, OH
Replied

@Luis Marcelino I manage multimillion dollar capital construction projects, so using an architect, engineer and professional construction cost estimator is standard. For my own reno projects, it took years to learn accurate construction costs and assemble a scope of work. I use a database now and can routinely get to within 5% of actual costs on about any reno project...but again, it takes time.

One thought is to interview multiple contractors and get bids. 3-5 bids should show you an appropriate range for the work. I would not automatically select the lowest, but seek value and craftsmanship. I would also be sure to ask for proof of insurance or a bond...referrals, images of past projects, etc. Remember, you are the boss and this is your project and your money. A good contractor will understand this and have everything you need to make a decision to proceed. 

One last thought would be to use a virtual assistant to call and vet contractors...I use UpWork, but there are sever VA firms that could do it...pay $50 and come home to a nice tidy spreadsheet with contractors information awaiting your approval.

  • Brandon Sturgill
  • 614-379-2017
business profile image
Realize Property Management Group
3.6 stars
20 Reviews

Loading replies...