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Updated about 22 hours ago on . Most recent reply

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Joshua Friedmann
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Recommended rehab/flip contractors?

Joshua Friedmann
Posted

Hello PNW community!  I am a real estate permitting lawyer in Seattle as my day job, getting more active in my own investing and rehabs on the side, and hoping to become more active here on the forum. I would love to get acquainted with anyone active in the area, and I am always game to get coffee and talk real estate.  (I work downtown, have a rental on Queen Anne, and live in my *very* slow flip in Seward Park.

Does anyone have any top recommendations for no-frills GCs who would be cost-efficient for a flip or rehab in the area, and especially in South Seattle.  Work to likely include cabinets, flooring, drywall and paint.  All referrals and recommendations welcomed!

Thanks,

Josh

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Brandon M. Townsend
#5 General Real Estate Investing Contributor
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Brandon M. Townsend
#5 General Real Estate Investing Contributor
Replied

Josh,

One thing I've learned from managing multifamily and commercial projects is that contractor selection usually has a bigger impact on profitability than material selections or finishes.

For rehab projects, I'd focus on three things:

• Scope clarity before work starts
• Change order management
• Schedule accountability

Most investors get burned because they compare prices instead of comparing scopes.

I've reviewed bids where two contractors were $40,000 apart, only to discover one excluded items that were always going to be required.

For the type of work you're describing, I'd ask each contractor to provide:

• Detailed scope of work
• Preliminary schedule
• Change order process
• Investor references
• Current workload

The answers to those questions will tell you more than the number at the bottom of the proposal.

I'd be interested to know whether you're planning a cosmetic rehab or something more substantial.

  • Brandon M. Townsend
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