Are supply cost high for flippers right now? What’s the average price per sqft to rehab in Lakeland?

I’d love to chat with other Lakeland investors.

We do not fix & flip but I can say supply costs have gone up. I believe access to supplies are back because we have not had an issue getting supplies needed. 

@Adrian Smude that’s good to know! Are you doing home projects or working on construction?

@Adam Whitney we have repairs for rentals. One of our contractors did just tell us there are still some supply items which are very far out. We must have been lucky not to need them. Labor prices are high because of the demand for the guys!  
my advice is to make sure your rehab estimates are up to date. A quote from 3 months ago may not be accurate today. 

@Adrian Smude that’s great insights! How are you finding deals? Are you direct to seller Marketing?

Originally posted by @Adam Whitney :

Are supply cost high for flippers right now? What’s the average price per sqft to rehab in Lakeland?

I’d love to chat with other Lakeland investors.

 Adam,

I do buy and holds just north of Lakeland in Davenport. Supplies are still a bit on the high side. The most expensive thing right now from pre-pandemic is lumber. I bought 2 x 4's for a bit of framing a couple weeks ago and an 8 foot board was $9. They are usually $5. Other than that most things are just a tiny bit more expensive than before the pandemic. The real problem has been finding certain things. Some supplies are on back order in stores so I have having to order things online and wait a week for them to arrive. I do all the rehab myself so its a bit frustrating at times.

Hope this helps,

-Matt

Originally posted by @Adrian Smude :

@Adam Whitney we have repairs for rentals. One of our contractors did just tell us there are still some supply items which are very far out. We must have been lucky not to need them. Labor prices are high because of the demand for the guys!  
my advice is to make sure your rehab estimates are up to date. A quote from 3 months ago may not be accurate today. 

 Adrian,

Have you found that contractors you have worked with for a while are still giving you the same price or are they even increasing in price? The few things I sub out (Like granite counters) the contractors have kept the price the same for me because of repeat business.

@Matt Nico thanks Matt! I’ve been using a rough rule of thumb of $30 a sqft for a full rehab including roof, HVAC and Labor. Thoughts?

@Adam Whitney

I honestly have never broken jobs down by square feet in general. I do it by line item macro and micro. So macro would be bathroom # 1: $7,500. Then zero in on that for supplies + labor. Just my 2 cents. Obviously not perfect but i get close.

Yes our normal contractors have been pretty close to their normal price but they are much busier so we've had to wait longer than normal.

Originally posted by @Matt Nico :

Originally posted by @Adrian Smude:

@Adam Whitney we have repairs for rentals. One of our contractors did just tell us there are still some supply items which are very far out. We must have been lucky not to need them. Labor prices are high because of the demand for the guys!  
my advice is to make sure your rehab estimates are up to date. A quote from 3 months ago may not be accurate today. 

 Adrian,

Have you found that contractors you have worked with for a while are still giving you the same price or are they even increasing in price? The few things I sub out (Like granite counters) the contractors have kept the price the same for me because of repeat business.