Looking for a Rehabber in Kansas City

Looking for a Rehabber in Kansas City

Kansas City, MO · Member since 2016 · 12 posts · 3 votes

Hey everyone in Kansas City! My girlfriend and I are looking for someone that we can work with that currently rehabs houses. We are wanting to start a wholesaling business and are wanting to get a much better understanding on estimating rehab costs. We are constantly looking for property and we run comps when we find one that catches our eye. Ultimately, our goal is to utilize the BRRRR method but that would be years down the road when we can bring more cash to the table.

We are looking for someone to help guide us in estimating rehab costs and hopefully we can begin to work together once we feel that we have an adequate understanding of those costs. The last thing we would want to do is waste someone's time with presenting a bad deal. We just need a little bit of hands on learning from someone who is willing to teach us. Thank you so much for reading this post. We look forward to meeting some new people and exchanging ideas!

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Real Estate Broker · Phoenix, AZ · Member since 2013 · 749 posts · 399 votes
8y

@Jordan Gobely - I have been flipping full time for the last year and investing for 13 years.  I personally don't understand how anyone can start out wholesaling for exactly the reasons you mentioned. Unless, within a few thousand dollars, can tell me as a flipper what a property is going to cost to rehab - you are guessing.  Most of the wholesale deals I see are junk for that reason.

I would highly recommend you take on a couple of flips. Spend a few hundred hours in home depot. Talk to a hundred or so contractors. Things start to come together then. You realize with the right contacts an HVAC system can be installed for 3k instead of 6k, etc..

Yes, you could talk to someone like me and say "hey what does it cost to install an HVAC unit." What I can't teach you and you learn from flipping is how to walk a house and spot issues. Bad sill plates, faulty wiring, etc... 

Probably not the answer you are looking for but it is the honest answer. All that said - I am always glad to help you, however, I can to get started. Feel free to PM me. 

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  • Real Estate Broker · Phoenix, AZ · Member since 2013 · 749 posts · 399 votes
    8y

    @Jordan Gobely - I have been flipping full time for the last year and investing for 13 years.  I personally don't understand how anyone can start out wholesaling for exactly the reasons you mentioned. Unless, within a few thousand dollars, can tell me as a flipper what a property is going to cost to rehab - you are guessing.  Most of the wholesale deals I see are junk for that reason.

    I would highly recommend you take on a couple of flips. Spend a few hundred hours in home depot. Talk to a hundred or so contractors. Things start to come together then. You realize with the right contacts an HVAC system can be installed for 3k instead of 6k, etc..

    Yes, you could talk to someone like me and say "hey what does it cost to install an HVAC unit." What I can't teach you and you learn from flipping is how to walk a house and spot issues. Bad sill plates, faulty wiring, etc... 

    Probably not the answer you are looking for but it is the honest answer. All that said - I am always glad to help you, however, I can to get started. Feel free to PM me. 

  • Kansas City, MO · Member since 2016 · 12 posts · 3 votes
    8y

    @Dan Krupa - Thank you for your input Dan. It makes really good sense. For you, have you noticed that General Contractors are okay to get the job done, with their team; or do you have a specific contractor for each job? 

    There was a SFH that we looked at about 6 months ago but it can be turned into a duplex. Separate meters and 2 kitchens. However, we got so scared when we actually went to look at the property. I mean, everything needed to get gutted. We just didn't know where to begin. The seller still hasn't sold the property when we checked yesterday. The main problem was that there are no comps in the area that match the sq. footage of the house so we weren't really able to estimate a good ARV. I suppose taking on a lighter rehab would be the way to go in order to get our feet wet and then tackle something more complex in the future?

  • Real Estate Broker · Phoenix, AZ · Member since 2013 · 749 posts · 399 votes
    8y

    @Jordan Gobely PM me.  I might be able to help you through it. Our first flip would be considered an "Advanced" flip. Our second flip - 30 ft of the foundation had collapsed in and the house was caving in on itself. So yea...don't be scared. LOL. You learn real fast when you have to. There will be some tough lessons learned but with the proper mentorship you can stay out of trouble and learn more in a few months than in years of doing it "part-time."

  • Realtor · Kansas City, MO · Member since 2014 · 148 posts · 40 votes
    8y

    @Jordan Gobely

    1. Comps are best found by bed/bath ratio
    2. Condition
    3. Distance from subject property
    4. Age of property
    5. Style of the property, split-level, ranch, etc.
    6. Then square footage
    7. Lot size

    I work with a lot of starting wholesalers as well. I will take a look at anything you come up with, and we are always buying. A really good rule of thumb is $20-25 a square foot for rehab, then add costs for roofs, 3-5k, hvac 3-3.5 k, blow pipes, 1,500-2,000, foundation 1-30k (harder to determine when starting, but you can have guys give bids). Windows, $200/window, etc.

    Let me know if I can help with anything else.

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