First Time Project Managing a Full Rehab

2 Replies

I am about to close on a single-family property where the lender has agreed to let me act as GC for the work. The rehab budget is capped at about $35k and works on a draw/inspection schedule. I will be working with several companies and individuals, as well as completing a portion of the work myself. Does anyone have any advice on how to make this work smoothly and avoid pitfalls like liens, etc. Thanks in advance.

1) Learn your state lien laws. You'll need a statutory lien release affidavit signed by your contractors, with every draw/check received.

2) Make sure they have workers comp ins, liability would help but not as important as the workers comp.

Is this a 203k?

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