Indy area GC’s that will work with new investors

5 Replies

Hey all! I was wondering if anyone could recommend any GC’s in the Indianapolis area that would be willing to work with new investors on estimating rehab costs. I need someone to walk potential properties with me and give me rehab estimates. If possible I would like to learn as much about it as well. I am currently reading J Scott’s book on estimating rehab costs. Thanks in advance! Also if anyone has any spreadsheets or formulas they use that would be helpful!

Email me I’ll send you a GC’s contact info

Ali
It won’t allow me to see your info?

@Josh Sohar keep in mind most GCs probably won't be doing this for free. Assume they will want to be compensated for their time. Just a heads up, as you might not have thought about that. I could see them billing a few hundred dollars or more per house/budget.

@Brian Pulaski
Yeah I realize that! Thanks!
Any other resources you may recommend or any other best practices by you or other investors?
Thanks!

@Josh Sohar this is one of the most difficult things for beginners. Things get easier with experience, however when you are starting out it can be a challenge. One thing I do if I have no clue on what a scope costs, is pick up the phone and reach out to local companies. I found a good majority are willing to spend 10 minutes on the phone with you and give you an idea of costs. Recently I did this with roof/window/siding companies, Basement waterproofing companies and pool removal companies. All of them were willing to give me either a ballpark based on my description (they also understood I wanted to factor a good number, something to cover me verse a low number that could backfire in the end) or typical costs per SF, SQ or window. Very helpful on larger scopes.

Another suggestion would be to hit up the hardware stores, or their webpages, and run through material costs. Do a "take off" of the materials you think you need (think drywall, take SF of the walls, ceilings, etc. and determine how many you need, how much compound, tape, corners, screws, etc...) and do the math. Once you know the materials cost, a down and dirty method some use is to double it for labor. Personally I like to try and determine how many man hours things might take and then multiply that by what a standard labor rate might be. This however will come with experience.

Always factor in contingency, do your best to research and pull the trigger. You will learn more with each deal.

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