All Forum Posts by: Monica Staple

Your realtor should have walked you through this prior to writing an offer for the property. As these numbers really effect what you should pay for the building. Moving forward you should be vetting all the people you work with to make sure you don't have spend for what the ARV goal you're trying to hit. Even if you're house hacking, your budget and these goals should align.

@Johnwarren made some very good points. GCs often only bring in sub-crews and they charge a more of a management fee to "manage" the project. However, you need to making sure YOU check their work. If they say they are putting in tiles- CHECK. Make sure they are going in when they say they are. AND that they did what you have in your plans. 

For me, I found hiring sub-crews out individually to be cheaper and more manageable than a GC that doesn't know which end of a hammer to use. But I also spent a lot of time learning before I did my own projects and had time and funding on my side. If I didn't I wouldn't have been so lucky. 

Hi Monica--I'm in Chicago suburbs.  You need an architect absolutley and that is where you start.  I have a couple of referrals for you if you need one.  (Interview them like anyone else and price shop).  I have been a GC for 15 years and licensed in Chicago.  (Now I only work my GC role through my own investments).  I say this to all who are working in the fix/flip arena--architects are pivotal in protecting you from liability.  Permits are pivotal for the same. A tried and true veteran of the construction shark tank both commercial and residential, you really want to take the extra few dollars and protect yourself.  Priortize it in your budget as the most crucial elements of a project.  A GC will add another layer of accontability as well.  We all tend to take more risks until suddenly you need to answer for an issue.  ANYONE can decide at anytime to sue you because they don't like the color of your shirt.  You will always be left to defend it or negotitate it no matter how ridiculouos, so don't cut yourself short by not having the correct professional sign off on your projects.  And that pricey insurance really only comes in handy for catastrophic events.

@Monica Staple I have always found that the term GC gets thrown around a lot without a ton of context. Most of the time, the general contractor is the hub for bringing in sub contactors since you don't know all of them (licensed plumbers, electricians, roofers, framers, concrete, hvac, etc). Also, the GC typically (though not always) will have an in house "crew" that can do all the stuff the subs don't do much of. The GC is mostly a project manager, and if they are good, this adds so much value. 

On the other hand, if the renovation is a true gut with plans and permits, you will need an architect. I have done projects where I would have been well served to have an architect (but I cut corners). An architect knows the stuff most GC's don't know, and often times on a full project will get the permits and get you moving through the project. 

Now if you are just doing a kitchen or a bathroom, most folks on here are looking for a small crew.... not really a GC but sort of. This is typically one to three folks who work together and can do most stuff (sort of). Framing, drywall, tile, installation of cabinets, etc. 

What size project are you really doing and where is it located?