So my in-laws are trying to sell 3 pretty run down properties (2 SFH and 1 Duplex). Both SFH have renters but none in the duplex. I haven't seen them yet but was told they are very run down. I haven't done a fix and flip or BRRR but am interested in giving it a go. I am looking for recommendations on a local contractor in Cecil, PA - Suburbs of Pittsburgh, PA - to help me with estimating costs and ideas for the rehabs. I am researching comps in the area for resale value and current market rents to figure out if fix and flip or BRRR would be better option. Any and all would be greatly appreciated!!!
Flipper/Rehabber · Pittsburgh, PA · Member since 2020 · 29 posts · 17 votes
5y
If you hire a GC, you’re really going to cut your return. Can you GC it yourself?
i have just completed one remodel where I physically did most of the work, and have just started another where I’m subbing out most of the work. Happy to chat live if you want. PM me with contact info
North Richland Hills, TX · Member since 2019 · 156 posts · 80 votes
5y
Hi Matt, I think it's better to decide what your goals are before deciding if it will be a flip or a BRRRR... Both can be good- the market is so hot so if you'll flip it you'll probably going to get top dollar for that and f you'll BRRRR then your REFI will be in a really low interest rate.
But what is your goal- do you want to rent out those properties in this specific area or you have different investments goals to this money?
@Shai Flax thanks for your input! I have decided to pursue this opportunity as a fix and flip and use my capital elsewhere that more aligns with my long term goals of commercial Multifamily investing.
I need to find a reputable Pittsburgh contractor to give me estimate now. Any referrals?
Contractor · Pittsburgh, PA · Member since 2017 · 22 posts · 7 votes
5y
Hey Matt,
What sort of scale do you anticipate this project being? A complete tear-down to the studs? I know it's pretty tough times to a find a decent contractor here at the minute, most I know are slammed with work.
Flipper/Rehabber · Pittsburgh, PA · Member since 2020 · 29 posts · 17 votes
5y
If you hire a GC, you’re really going to cut your return. Can you GC it yourself?
i have just completed one remodel where I physically did most of the work, and have just started another where I’m subbing out most of the work. Happy to chat live if you want. PM me with contact info
Investor · Pittsburgh, PA · Member since 2015 · 1k+ posts · 1k+ votes
5y
@Matt Hindt I would side with @Doug Smith. You are going to cut your profit and its hard to find a good GC. If you PM me I can give you a recommendation but just be ready for some sticker shock. Finding a good reputable contractor who will show up and get the work done on time is nearly impossible. One that wont run off with your initial deposit and you never hear from them again. I have a few good crews but they basically only do work for me and a few other investors here in the Pittsburgh Market. If they have any time I am sure they will at least talk with you and get your scope of work.
North Richland Hills, TX · Member since 2019 · 156 posts · 80 votes
5y
@Matt Hindt not yet unfortunately... But I'm under contract for a duplex and have a contractor whom I work with for the first time so after the rehab I might have a recommendation...