When to have Trim Carpenter out for estimate?

Question

This is my first rehab. I am gathering estimates currently and was wondering when should I have the Trim Carpenter out? I am adding 2 BR and a Bath in the second story which is currently just an attic. So nothing is framed out.

Thanks

Charles Seager · Answer

@Will Barnard I have just recently spent time with a mentor and your path was an almost identical one to that of my mentor laid out for me.   I appreciate the validation.

The communication aspect of RE investing will the most challenging for me since I have the hardest time getting out of my own way.   When I get past that things will flow.

It’s like getting into cold water, I just have to run and jump, but some times it takes a few walk ups before I just do it.

Will Barnard · Answer

I took the opposite approach when I first started rehabbing. I hired each sub, acted as my own GC as owner builder and I even did work myself. I certainly would not do that today but I must say that the first few flips that way taught me what things should cost, which order to do  them, and how long each item should take. It was a valuable experience with the hands on approach and made me a wiser investor in the long run. Not to say that one way is right or wrong, just providing another perspective.

On the other hand, if new and doing something major like additions, new construction, or gutting down to studs, an experienced GC with that will help keep you out of major trouble, but for simple fix and flips, there is no reason you can’t hire out each sub. You will make mistakes but that is ok. It is on the job training that will lead to better knowledge and then when you do hire a sub or GC, you know the lingo, the costs, the time, and can’t easily be fooled.

Greg Dickerson · Answer

It will actually cost you less in the long run as you will save time and mistakes especially on larger scale projects. For minor stuff you can hire subs directly but I would still go turn key a and let them supply all materials.

Charles Seager · Answer

@Greg Dickerson I'm not opposed to going the route of a General Contractor for my first go around if that person is willing to help me learn about the process.  I have business plan I'd like to execute and be comfortable with finding subs for certain situations, such as a light rehabs in the future.

With that said, how much more will a job cost with a General Contractor running the show?

Greg Dickerson · Answer

@Charles Seager you may want to consider having a GC turn key the project for you. You cn end up costing yourself way more trying to do it yourself if you don't have the experience.

Will Barnard · Answer

If you are adding a bed and bath, you should have a plan set you can send to each sub for their bids. Provide that with a scope of work including which size and style you want, etc.

Brian Pulaski · Answer

If you can put together or have a floor plan they should be able to bid off that (assuming you spell out what door casing, base mounding etc).