All Forum Posts by: Jeffrey Stasz

@Account Closed I think finding good contractors is about knowing where to look. In my experience the really good ones are not on the internet because they already have too much business coming through referrals. 

When I am evaluating a new market and looking for contractors I start at the best local building supplier (NOT HD/LOWES) and talk to the folks at the contractor desk. This has helped me find the best framing contractors and finish carpenters I have ever worked with. 

You should also check out the local NAHB chapter and go to those meet-ups. That's where you can find the folks looking to grow. 

Finally, I walk on to job sites at least 2-3 times a week and bull with the folks on the job, collect cads and evaluate work. 

Hope this helps everyone. 

Yes. I am a bit new to the program but have been pretty impressed with it's functionality. It is clearly more geared toward GC's but that works for me as I am a hands on investor and tend to coordinate subs myself, rather than forfeit a 20% markup (at least) on all of my projects to someone else. 

BuilderTrend is also rad. 

I worked up in Hudson mostly in historic work so tear downs were hard for me. 

That said - new construction is the way to go. 

The biggest road blocks are going to be zoning and town work. Suggest you go and see the local building inspector. Talk to him/her in person. Find out what makes projects pass and what does not. Most towns have two levels of permitting. Planning board for rezoning and building permitting for projects that stay within the original footprint. 

Other than that the eval is the same: 

What does it cost to do a machine tear down? 

What does it cost to build? 

What are your closing and permitting costs? 

What can you sell it for? 

If you'd like to talk more please PM me. 

I use Asana for my consulting job A LOT. And I love it. However...it is the wrong tool for real estate 

While Asana is a great tool for consulting it is not a great tool for rehab/flip/development. It does not have the functionality you would need and it's too hard to bring in additional resources. Asana has no gant charts. No critical path visualization and no way to track all of the hard costs associated with a build. 

BuilderTrend is going to cost you more. Heck it might even cost you 2k a year when you're big. But it's worth the extra money. If you want to build stick with building programs. 

My two cents. 

No way!!

I redevelop single family homes in the Hudson River Valley. I target properties that require extensive renovation with significant upside. 

I am currently working in Hudson and Catskill NY. 

Poughkeepsie might have some potential but it does not suit my business model. I am focused on City people and Poughkeepsie does not have much of a second home market. Millbrook and the surrounding areas are pretty good. 

That does not mean that deals don't exist in Poughkeepsie, it's just not an area of focus for me. 

Hi All. 

I actually flip high-end properties in the Hudson Valley in New York. Most of my customers are City folk looking to purchase their county homes. So, while the market is a bit different I suspect our customers and costs are probably pretty similar. 

Here is a project I just completed: http://www.realtor.com/realestateandhomes-detail/4...

I agree with the above post that pricing it by the sq/ft is a bad idea. In high-end properties small decisions can radically effect your sq/ft costs. 

So here is how I would set this up: 

Kitchen: 

Appliances - $6,000 

Cabinets - $10,000

Countertop - $70-110/sqft

Sink - $1,500

Faucet - $500

Cab pulls - $500 (or $6-10/pull) 

Install - $2,000

Flooring: 

Floor product (unfinished): (expect to pay 4 - 10 dollars per board foot for anything quality) 

Floor finishing (sanding, coating etc) roughly $3/Sq ft (as long as you are using a standard coating (polyurethane) if you want to go higher end with an oil or stain expect this to jump to 4-5/sq ft 

Bathrooms:

Demo: $/hour x expected hours 

Underlayment: Schulter Shower System (approx: 500/shower enclosure) 

Tile/grout/thinset: 6-10 sq/ft

Install: $3-6 sq/ft 

Lighting and Electric: (pricing includes installation)   

Switches: approx $30/switch  (this assumes a mid range Leviton 3-way dimmer) 

Outlets: $10 (TR Leviton duplex, GFI where needed and duplex/USB combo in Kitchen Island and a few choice locations) 

Lighting:

Surface mount approx $150/fixture

Can: approx. $250/fixture (assuming old work install by electrician)

A little more on why I do it this way: 

Kitchen: You can figure out exactly how much your kitchen is going to cost before you start. And because appliances are so expensive, I find it best to buy my kitchen at the outset. That way you know, concretely how much this stuff is going to cost. If all of the nice homes in the area are packed with Viking then you can expect to pay 20K for appliances. 

Bathrooms: People expect custom. If my buyers see pre-formed plastic on the floor they assume the entire place is junk and pass. That means I am always building custom enclosures. I use the Schluter system because it is easy to install, fast and comes with a good warranty. 

Flooring: Most buyers can't tell the difference between pre-finished floors and the "real deal". That said, I still choose to install custom floors. I work with local mills to do custom runs of interesting varieties and lots. That way my floors are always a unique size, variety or have additional features (heavy spalting for example). A custom floor makes the entire project feel way different and gives the realtor something to talk about.  

If you're trying for a quick and dirty estimate this might not be too helpful. However, with higher end builds quick and dirty estimates are hard to pull off because materials and labor are just way more expensive. This breaks down what I generally find to be the most expensive parts of my build and will hopefully get you to a number that cuts down on surprises. 

Some things I left off: 

Windows: 700-2,500/unit 

Insulation: 3-6/board ft. I live in a cold place and people want foam 

Paint: $3/sq ft. 

Hope this helps everyone. 

- Jeffrey 

@Dareen Sager Looking forward to the meet up.