Hey BP family, I have a Reno loan in under writing and will be hopefully find my first property to flip within 20 days. With this renovation loan I'll need a licensed contractor to submit bids and reno cost. Does anyone have any recommendations in the New Orleans area ? Thanks in advance
I can give you a recommendation. Send me a PM and I'll get you a couple names to get bids from.
You need to get a scope of work together and have each contractor bid on that same scope. If you just get a couple bids, each contractor will have different things in their estimate. If you have them bid the same scope they are all bidding the same thing. That way you're comparing apples to apples.
My husband and I are going to do a renovation and hold on a property we just purchased in Omaha Nebraska. We do need a renovation loan, does anyone have any ideas of where to start. We are from California and are headed out this weekend to meet General Contractors and Property Managers. Ideas would help greatly, wonder if it's too late to get a reno-loan - we can make it work without but it sure would help. Thanks. Katie M. PM me if you have ideas.
Depending on what after value is you could refinance it out after 90 days of having a tenant