Seeking New Construction Cost Details from a Supt or PM (barter?)

12 Replies | Charlotte, North Carolina

Hello!

I'm looking for some residential construction intelligence in the Charlotte area.  Specifically the current competitive rates for new construction trades and materials (e.g. foundation, framing, plumbing, electrical, drywall, trim carpentry, painters, tile work, brick layers, roofers).  Also some tips for good / bad subs you've experienced would be great too.  Perfect source is if you're a current Residential builder, Supt or PM for a builder who wants to get into investing in rental units.

I can trade tips / guidance on residential rental income and/or investing in real estate with a self directed IRA. I don't have any earth shattering secrets you can't find in books, but I can share actual experiences, timelines, prices, rehab costs, insurance costs, rental roles, property management and tips for how I've created a 19 unit portfolio worth almost $1M and generating over $100k annually inside my IRA, starting from a relatively small initial investment.

Maybe we could swap 1-2hrs each?  Over phone / skype works for me (in person ok too).  

Thanks!

Chris

We are just getting started in investing here in Charlotte. My husband and I don’t have any recommendations of contractors but would love to get together for lunch or coffee. Maybe we can put together a deal or just chat. Let me know if/when you’re free.

Hey Chris, happy to help.  I've built homes and townhomes in Charlotte, as well as run a rental portfolio here and a small hard money lending operation.  Feel free to reach out. 

Hey Chris, we do a lot of work with new construction or rehab/renovation projects in Charlotte. We're based out here. I'm happy to share any insights. Admittedly, most of it would be on the lending or financial side,  but perhaps there is overlap or other information worth connecting on since it's definitely within our scope.

Feel free to reach out directly. In any event best of luck, love the Charlotte market!

Hello Chris,

Im not in your area specifically but i am an independent property insurance adjuster. I use a software called Xactimate which is the industry standard when an insurance company determines how much something is supposed to cost. Everything is broken down by the price of a line item in a given zip code. The software enables me to tell what everything is supposed in any zip code whether im in SF, LA or Houston. The software is what enables me to negotiate with contractors to make sure an insured is taken care of.

Feel free to PM me and id be happy to help you out if youd like.

Anssi Viljanen

@Manolo D. The difficulty is relative I guess. After a week of adjusting I was comfortable with it. Im a millenial. I know some of the older beards that were trying to break into the industry the same time as me had a hard time with it. When it comes to negotiating with a contractor, the tool is indispensable.

@Anssi Viljanen I like their pricing but not all are ok with that, certainly not investors. They always cry when they see a charge of $40-50/hr, they will think we are crazy. It’s actually decently priced for a legitimate contractor that has overhead, not your man with truck and tool kinda guy price. Any tips on how to start with being “preferred” or referred to from an adjuster? In easy case scenario, an adjuster could send me scope and price then ill accept and sign contract.

To the OP, sorry for hijacking your thread.

@Manolo D. I obviously am not a decision maker on the matter but here are my two cents. Buy a Paul Davis franchise or a ServPro franchise, someone who already has program vendor contract. Thats probably the easiest way to do it. Other than that, i see that basically every vendor working for insurance comes in through water mitigation or other quick response restoration work. That way they are already helping the customers and that way theyll have a way to sell more rebuilds too. Let’s take the convo to PM if youd like more input.