Who do you bring to view a property to estimate rehab costs?

Question

I am looking to get started on my first BRRRR/Fix&Flip around Mecklenburg/Gaston/Cabarrus/Lincoln counties. Who all should I bring with me to view the property to estimate rehab costs before making an offer. Do you just bring a General Contractor with you? What if you suspect foundational/structural issues with the property? I want to make sure that I have the right people/person with me to get a more accurate estimate of the rehab cost.

Also, I'd love to have the connections of any General Contractors, structural engineers, electricians, plumbers, etc that investors in the above counties have used.

Thanks for your help and guidance!

Also, I'd love to have the connections of any General Contractors, structural engineers, electricians, plumbers, etc that investors in the above counties have used.

Thanks for your help and guidance!

Scott E. · Answer

You shouldn't bother a general contractor until you have a property under contract.

Would be good to have an initial phone meeting with them and explain the type of houses you are targeting (example 3 bedroom, 2 bathroom, 1500 square feet, build in 19XX, full renovation needed, etc). If they have experience remodeling these types of homes, they will be able to give you a ball park of what it will cost to remodel them.

Use their ballpark numbers when you're deciding what to offer. Then if you get the property under contract you can bring them out during your inspection window to run real numbers on the deal.

Bruce Woodruff · Answer

A General Contractor is your best bet...you should expect to pay them though...maybe $200-300 for a walk-through.

A Home Inspector is ok for basics, but if they see a possible issue with the foundation/slab for instance, they will refer you out to one of those Contractors, whereas a GC will have enough experience to give you a budget number right on the spot.

Eliott Elias · Answer

Bring a GC, and pay them for their time. Build a relationship with them, you are going to be walking hundreds of properties

Forrest Williams · Answer

Bring yourself and a tape measure. A contractor won't want to come out unless you already own the place and there's a good chance they'll get the work. You could look at 20 different houses before you find one you like, no contractor is going to come with you and give quotes for that many places without some compensation. If you already have a contractor you've worked with a lot and you trust each other, maybe. But since you're asking for GCs I doubt it.

While you're viewing a property, make a list of everything you want to fix or spruce up. Then find out the prices yourself once you get home. If you know how much materials cost and  can measure, the estimating process gets a lot easier. Go to big box stores and look up prices for flooring, appliances, windows, etc. Once you get some numbers in your head, estimating costs gets a lot easier. I

John Mathew · Answer

Hello German! First, get in touch with a professional home inspector and have them walk through the home with you. It’s their job to be thorough and to notice potential issues with the home that you might overlook. Ask questions, talk to them, and get recommendations for local contractors. If they’ve been in business a while, they might have good contacts.

Bob Stevens · Answer

Until you get experienced bring your GC, Once you learn you will be able to do it alone

Good Luck

Vinnie Da silva · Answer

it all depends on the property's condition. Usually a contractor is sufficient. however, if you suspect that there are major issues, then you will also need a home inspector to look at foundation and structurer. I suggest you to find a contractor that you or someone you know have done business with. Also, try to get 3 quotes from 3 different contractors so that way you will have a price reference.

Bruce Woodruff · Answer

Best if you can find an older, semi-retired kinda GC. That way, you're not competing with a contractor's normal workday where he has zero time.

Laura Shinkle · Answer

You'll need to bring a GC. An inspector knows a little bit about a lot of stuff. GCs are typically more realistic and will actually be able to give you a cost given a certain issue. The inspector will just say "this looks weird, talk to a GC about it".

It may be tough to find a GC willing to do that with multiple properties. Do as much work as you can before hand to eliminate properties that obviously won't work so you're not wasting their time over and over.

Who do you bring to view a property to estimate rehab costs?

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