I own a ~6200 square foot house on Martha's Vineyard that I would like to renovate and sell. Construction costs on the island are insane. I was speaking with an experienced flipper / investor this morning who thinks the cost isn't based in reality. It's more just that houses are already expensive, that it's a vibrant vacation destination, and builders decide to up their prices because they can. What I'm looking to do is bring in an out of state crew that does high end flips and be able to renovate for a reasonable cost. I came across a big luxury flip done in Vegas, where no detail was overlooked. It is absolutely beautiful and the rehab cost was ~$180k. Is it possible to bring in an out of state crew and pay them what they'd make in Vegas or slightly more? If I hire on island it could cost over over $1M. Open to any thoughts / ideas. Thanks!
@Jackson Sandland I'm not sure that would work. The crew would have to be licensed to work in MA. Travel expenses and the cost for them to stay somewhere will get quite expensive. I live on Nantucket and there are plenty of crews that come over everyday, but they aren't traveling from out of state. They come down from just off Cape. Also the cost of materials are still high.
I have experience with this, but not in Martha's Vineyard. A big question will be if the crew can find housing to stay in Marthas Vineyard for the duration of the job. Depending on motel/lodging costs (not too many in MV) this could be an option. If they have to ferry down and back every day this will obviously increase the price, if for nothing the pain of doing that every day. As another poster mentioned, they would likely need a MA license.
I could see it being done cheaper with a crew from just outside the cape, but I think out of state will be a bit tricky.