All Forum Posts by: Cali Skier

Did I post this in the wrong place?

Hi,

Questions up front:

What % does a general contractor typically charge on a home build or home add on?

$5k +20% on top of cost a good deal?

We are looking at adding at least a master suite, a garage and blowing out a living room on our current home, so a major addition of about 1200 sq ft with a 600 sq ft garage.

I spoke to a general contractor company today that has a service where he finds all the people, builds the plan and schedule.  I become the project manager, make all the phone calls to the subs, and manage the day to day build with reachback for help to the general contractor if I need it.  For this service is $5,000 up front for design work and 3D virtual walk through so I can approve the final design, and I pay them 20% on top of each check I pay to the subs, I am writing all the checks.  

I get to pick the subs from their list and supposedly they compete with each other or at least I can pick the lowest price.  Anything I pay for has a 20% mark up that goes back to the contractor.  If I ask him to manage and do the phone calls he gets 30%.

I have no problem being the project manager, I do it for a living in a completely different field.

The question are:

$5k +20% on top of cost a good deal?

What % does a general contractor typically charge?

Thanks so much for any guidance
    

That's the word of the year, relationships.  That is the key to everything.

The one that went in a month, their lease was month to month and we rented to them, holding the property for a month while we replaced the floors.  We really held it for 2 weeks because the floors took 2 weeks to replace.  They were the second set of potential tenants that looked at it.

I think 15 days is great. 

Do you show the property to tenants when the old tenants are still in it?

Sounds like the target is 24 month or longer lease and 1 month or less turnover time for a SFH.

I was very proud of the 1 day turn on one of the properties, could not have been easier.  We actually gave the old tenants $100 bonus when they left we were so happy with them.  They actually improved the property while in it and left it so we had to do nothing for the new tenants to come in.

We are on our 3rd property and out 6th set of tenants.  Summary Question:  What is considered a good vacancy duration, and what is considered good tenant duration?

For us, the last two vacancies were 1 day and 1 month.  I think the 1 day is incredible and we got stellar tenants on that one.  The one month I think is good but I don't know what others are doing.  

Our longest tenant has been 3.5 years, Air Force.  Shortest tenant was 9 months, but we bought that property with them in it.  3 and a half years is good I think for Air Force tenants.  We own in a base town and like base tenants.

How would you complete these sentence:  

"You are doing good if you can get your houses rented in XXXXX days/months"  -assuming normal qualifying tenants

"You are doing good if your tenants stay for at least XXXXXXX months/years"

Thanks so much!

Ok, here is the current list of damages, which of these things am I allowed to charge for?  Can I charge some amount for my labor (mowing, cleaning appliances, pressure washing)

   Carpet in the master was destroyed and pee stained, had to pull pad and carpet.

   Two other places in the house the carpet was ripped (not as bad, but if I was a new tenant I would want it fixed)

   Two window sills are totally scratched up, really bad

   Two sets of blinds are chewed up

   Yards were not mowed, never weed wacked, not edged.  (I did all this myself this weekend)

   Back patio had to be pressure washed to get the muddy dog prints off

   Oven needed to be cleaned

   Refrigerator was attempted but not completely cleaned    

   Windows are not washed

   Carpets were not cleaned   

Thanks to both of you for the insights.  I am listed on zillow, $10 a week is no too bad, I am not surprised they are doing it, no brainer.  Just thought you could have one free at a time.

Any thoughts folks?

Hi all, love this forum...

My biggest and immediate question is.  Why am I being charged a fee when I only have one property listed right now?  I did list one a month ago and took it down like Feb 3rd or so.  Is that why?

Do I have to use their rent payment service?  We like to do that ourselves

Can I upload my own lease and all my addendums (smoking, pet, etc.)?

Is there anything missing from the application, background and credit check you wish it had?  I assume it does not call past landlords for you, lol, but what does it lack?  Right now I use an actual property mgmt company for my background checks, and I like to do a lot of the tenant research and legwork because I want to know who I am getting.

Thanks all...