Need Advice: General Contractors and Flipping in Enfield, CT

3 Replies

Hello,

I'm a wholesaler and I have some deals coming under contract in and near Enfield, CT. However, In order to do this "the right way" (tm) I need to get the property inspected and have 2-3 GC's bid on the rehab. I want my end buyers to know exactly what they're getting into. Herein lies the rub: I don't know any GC's in that area.

Do any of you have any suggestions? I need someone who can bid on projects that include complete gut jobs and (gasp!) mold remediation.

Thanks!

~Jeff

@Jeff G.  Being a developer myself the most import thing you can do to be an actual wholesaler make sure your numbers are good and correct!  I have lots of people contact me with terrible deals arv is important very!

But to your questions make sure you put together a scope of work and make sure all contractors are comparing apples to apples.  I would start of with Google, drive around areas where work is being done talk to the contractors onsite.  

Me personally I would just rather know what needs to be done. By doing a high volume of properties I get a better price on items so a contractor giving a bid will always be a lot higher than what I could get it done for.   

I feel that getting the whole price with a margin for yourself and a good spread on an accurate arv is the most important thing I look for in a wholesaler. 

Good luck to you.

Hey Jeff, you should probably talk to some remodelers in your own area to get an idea on prices. Most remodelers know about what it costs to gut and redo a bath or a simple kitchen. Make a list of everything you think it might need. take lots of pictures and have some contractors give you a ball park. Having three contractors go out and give formal estimates will be very time consuming for you and them. I never liked to go give prices to potential buyers of properties because it was hard enough fighting for jobs for people who already owned their property. Do your best to get your rehab numbers correct and present it to your buyer with those numbers. Your buyer will figure out there own rehab costs. Try to compare budget amounts so you know what they figured. I don't think you need to be spot on correct as a wholesaler but you should be very close. If you can get some contractors to take a look, great. Maybe find some guys at the local Home Depot at 7 am. 

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