Hi does anyone have a detailed remodel draw schedule ? Please PM me.
You create your own, pretty simple. Each project will be a little different, perhaps with different priorities
Probably just an itemized scope of work, with prices. You can group several items together, none get paid until all done, if you want, to try and keep on schedule.
The draw schedule should correspond with phases of construction. There will be certain line items that appear in the first phase. Things like demo and whatever is happening first. These line items should represent costs – material & labor. Maybe lumped together, or maybe broken out separately. Upon completion of construction phase there should be some sort of inspection to verify that work has been completed for such phase. Couple things to keep in mind – phase one may be front loaded with some additional items, like permits or dumpsters, and there can be others. Phase one will contain things that are necessary to actually begin the project. Other thing – phases need to be somewhat flexible, meaning there can be things in phase one that can be pushed over into phase 2, and vice versa. Imaging removal and replacement of roof. If weather does not permit, you still want your contractor working on other things if/when possible. You don’t want a total stoppage because of one or two things. You want to keep moving toward completion date. The ability to move items in and out of a phase can be very important. AND of course the phases and corresponding draw schedule needs to take into consideration, that there is an order to things when it comes to construction. “A” needs to happen before “C”, etc. This is necessary for obvious reasons for us as investors, but the “not so obvious” part is that a contractor has an optimal order of doing things so they can be efficient and turn their own profit on the project. When this doesn’t happen or we, as investors, put in last minute changes, it can interrupt this order, which in turn can sometimes cause issues for and with the contractor. Good planning solves many issues. Of course, sometimes that is easier said than done. Hope this helps in some way.