All Forum Posts by: Lynsey Dreis

@Brad Swearingen every municipality uses different formulas to calculate their building costs.  I have worked with some areas that require a percentage of total building cost and also I have worked with areas that do it times the number of inspections required.  

When you got in touch with him, was your intent to find a fixer upper?  I have been doing a lot of research of Tampa neighborhoods recently, driving the neighborhoods weekly.  I myself am looking for a property right now.  Which neighborhood? 

Yes you can definitely do this!  I have actually worked with a guy in Kansas City, MO who is going through a similar process.  I would double check this but I believe the permit application process form states on there the rules for this.  It does save time for an engineer if you have majority of the plans already drawn up, especially because they do not have to take site visits to go field measure.  

Just to clarify, I would do it the opposite way you stated in your question though.  I would have the draftsman draw up as much as they can for the plan and THEN get the structural engineer to add on and sign and seal.  

@Evan Chan contractors can make standard selections for you.   If I were you, I would ask for all the suppliers they plan on using for the job (tile, plumbing, counters, cabinetry) and you can call every one of them yourself and work with a rep to make selections within your budget.  Make sure you establish your budget with your contractor though and not the supplier  because they know how much to include for all of the materials, install, mobilization, time etc.  

For example, you may have a 3.50 psf budget initially for your tile but  in reality it is really 2.50 psf because the contractor needs to keep that extra money for other supplies to install the tile.  Hopefully that makes sense.  

@Chris Keator Just a little tip:    if the sub's scope of work is over $5,000 hold $500 retainage either 30 or 60 days following the "acceptable completion" of their work.   If it is under $5,000 hold 10% retainage.  This holds some of their final payment as collateral until your job is complete in case something goes wrong after they leave the job.  Most subcontractors don't understand or like that but it prevents them from running away after you pay them final payment.  If you find something that needs fixing 30-60 days following their completion of work they will come fix it because they want that remaining payment.  

I map out the rehabs like the following: 

1. Write down every trade needed for your rehab

2. Write down how long each trade's scope of work will take

3.  From there, start arranging it from start to finish in calendar days and there might be some overlap when you can have multiple trades in the house at the same time.  I use the predecessor function in excel so that if one task doesn't get completed on time it pushes everything else back connected to it in the critical path.  

4.  Some key points to make sure you include: Get all lead times on everything you are ordering. (windows and doors tend to have long lead times) Include ordering the supplies as part of your schedule.  Include delivering the materials as part of your schedule.  This all takes time and should be set as reminders.  

5. Make sure to always include reminders to schedule inspections or for inspection days.  If inspections fail you need to be prepared for everything to be pushed back.  

Also, something to mention I am not sure you are starting your flip soon or not but I know it sounds crazy but A LOT of subcontractors take off a lot of time in the Fall days for "Hunting" season, as well as Thanksgiving and Christmas/Hanukkah. 

@Jeremy Benezra I agree with @Nik Moushon.  I used to work inside of a shipping container office in Denver, CO.  The company I used to work for was the GC who actually built them and they were so cool but every day people would inquire about these and want to know costs associated and it was always the same question about the affordability.  They are not as affordable as you would think.  

@Brandon Miles I agree with @David Robertson.  It is a little more work on the front end but why not protect yourself.  If anyone steps foot onto your property and somehow gets injured while doing work you could end up getting in trouble if they do not have worker's comp insurance.  Also you have much more thunder behind a lawsuit if it were to ever happen if you have a written detailed contract.  Contractors tend to not want to do a contract because they are not good with their office/administrative side of their businesses but it just makes you and your project look 100x more professional if you have a contract.  They will take you more seriously and know that they cannot screw you over.  

@Aaron Holowaychuk is your repair budget of 40k fixing what has been done without a permit?  When estimating a budget that has been completed without a permit one has to consider that each subcontractor is going to have to come out initially (1x trip charge) open up the walls (demo cost) undo whatever has been done incorrectly & redo everything over again.  It tends to be  significantly more than a typical cost estimate for a sub 

It is always a good rule of thumb to judge rehab costs by if they have to come out and handle the scope of work or for lack of a better word everytime "they touch" the work your costs go up.  Also most subcontractors dislike multiple small trips for work so they will upcharge you for everytime they have to come back.  

@Cristian Aviles-Morales it is probably also worth mentioning that number will probably increase in the near future.  It is common that all trades are charging more at least in South Florida due to the market doing so well.  The amount of developments are skyrocketing in the Tampa and surrounding area which causes smaller trades to want to go after the bigger projects and not the 1000 SF small remodels and single family construction.  It is crazy and it will probably get crazier.